Innio Sees Unusually Large Options Volume (NASDAQ:INIO)

Key Points

• Unusually high bearish options activity: Traders purchased 18,418 put options on Innio, about 9,749% above the average daily volume of 187 puts.
• Analyst sentiment remains generally positive: Innio has a consensus “Moderate Buy” rating and an average price target of $42.90, despite mixed individual ratings and target-price changes.
• Shares remain well below their 12-month high: INIO rose to $19.88, compared with a 12-month range of $17.45 to $42.95, while institutional investors—including Dragoneer Investment Group—established significant new positions.

Innio N.V. (NASDAQ:INIO - Get Free Report) saw unusually large options trading on Thursday. Stock traders purchased 18,418 put options on the stock. This represents an increase of approximately 9,749% compared to the average daily volume of 187 put options.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on INIO. Zacks Research upgraded shares of Innio to a "hold" rating in a report on Tuesday, June 30th. Citigroup started coverage on shares of Innio in a research report on Monday, June 29th. They set a "neutral" rating and a $42.00 target price for the company. Royal Bank Of Canada upgraded shares of Innio from a "sector perform" rating to an "outperform" rating and reduced their price target for the stock from $39.00 to $35.00 in a research report on Thursday, July 30th. UBS Group assumed coverage on shares of Innio in a research note on Monday, June 29th. They set a "buy" rating and a $47.00 price target for the company. Finally, Robert W. Baird set a $37.00 target price on shares of Innio in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Innio currently has a consensus rating of "Moderate Buy" and an average target price of $42.90.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. HBK Investments L P purchased a new position in shares of Innio during the second quarter valued at about $6,031,000. Junto Capital Management LP purchased a new stake in Innio in the second quarter worth $26,193,000. Dragoneer Investment Group LLC bought a new position in Innio in the second quarter worth $112,718,000. WINTON GROUP Ltd bought a new position in Innio in the second quarter worth $2,990,000. Finally, Squarepoint Ops LLC purchased a new position in Innio during the second quarter valued at $13,842,000.

Innio Stock Performance

INIO stock traded up $1.17 during trading on Thursday, reaching $19.88. 4,544,884 shares of the stock were exchanged, compared to its average volume of 4,536,589. Innio has a twelve month low of $17.45 and a twelve month high of $42.95. The business's 50 day simple moving average is $24.85.

Innio (NASDAQ:INIO - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. The firm had revenue of $937.70 million for the quarter. Equities analysts predict that Innio will post 0.37 earnings per share for the current year.

Innio Company Profile

INNIO Group is an energy technology company that develops and provides power generation and gas compression solutions. Its principal product lines are marketed under the Jenbacher and Waukesha brands, which serve distributed power generation, combined heat and power, and industrial and commercial energy applications.

The company manufactures gas engines and related systems designed to operate on fuels including natural gas, biogas, landfill gas and hydrogen blends. Its offerings also include microgrid and energy-management solutions, aftermarket services, parts and maintenance, and digital monitoring through its myPlant platform.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.