Innio (NASDAQ:INIO) Hits New 1-Year Low on Analyst Downgrade

Key Points

• Innio shares hit a new 52-week low, falling to $15.06 after JPMorgan cut its price target from $40 to $33, though it maintained an overweight rating.
• Analyst sentiment remains broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $38.40, despite one sell rating and several target reductions.
• Innio reported quarterly EPS of $0.08, above the $0.05 consensus estimate, on revenue of $937.7 million; institutional investors also initiated several new positions during the second quarter.

Innio N.V. (NASDAQ:INIO - Get Free Report) shares hit a new 52-week low on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $40.00 to $33.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Innio traded as low as $15.06 and last traded at $15.5930, with a volume of 167,447 shares changing hands. The stock had previously closed at $16.01.

A number of other research firms have also commented on INIO. Weiss Ratings lowered shares of Innio from a "sell (d)" rating to a "sell (d-)" rating in a research report on Wednesday, October 14th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Innio in a report on Monday, June 29th. They set a "hold" rating and a $41.00 target price on the stock. UBS Group assumed coverage on shares of Innio in a research note on Monday, June 29th. They issued a "buy" rating and a $47.00 target price on the stock. Bank of America started coverage on shares of Innio in a research note on Monday, June 29th. They issued a "buy" rating and a $46.00 target price on the stock. Finally, BNP Paribas Exane began coverage on shares of Innio in a report on Monday, June 29th. They issued an "outperform" rating and a $48.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $38.40.

Institutional Trading of Innio

Institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP purchased a new position in shares of Innio during the second quarter worth about $1,117,000. Troluce Capital Advisors LLC bought a new position in shares of Innio in the second quarter worth approximately $1,483,000. WINTON GROUP Ltd purchased a new stake in Innio in the second quarter valued at approximately $2,990,000. Readystate Asset Management LP purchased a new stake in Innio in the second quarter valued at approximately $3,975,000. Finally, HBK Investments L P purchased a new stake in Innio in the second quarter valued at approximately $6,031,000.

Innio Stock Down 0.3%

The company has a market cap of $11.97 billion and a price-to-earnings ratio of 199.25. The company has a debt-to-equity ratio of 11.90, a current ratio of 1.25 and a quick ratio of 0.79. The stock's 50-day moving average is $20.80.

Innio (NASDAQ:INIO - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.03. The company had revenue of $937.70 million during the quarter. As a group, analysts expect that Innio N.V. will post 0.37 EPS for the current fiscal year.

About Innio

INNIO is an energy technology company that provides power-generation and gas-compression solutions for industrial, commercial and utility customers. Its portfolio includes Jenbacher gas engines and Waukesha engines, along with associated equipment, digital tools and long-term service offerings.

The company's solutions are designed for applications including combined heat and power, distributed power generation, microgrids and gas compression. INNIO supports a range of fuel sources, including natural gas, biogas and hydrogen blends, helping customers produce electricity and useful heat while supporting grid reliability and energy-system flexibility.

INNIO was established in 2018 following the acquisition of GE's Distributed Power business by Advent International.

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