Innio (NASDAQ:INIO) Hits New 52-Week Low - What's Next?

Key Points

• Innio shares fell to a new 52-week low of $21.69, closing near $21.72 versus a prior close of $22.54 and well below the 50-day moving average of $29.74.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $42.90; recent targets ranged from $41 to $46.
• Innio reported quarterly EPS of $0.08, exceeding the $0.05 consensus estimate, on revenue of $937.7 million. Several institutional investors also initiated positions during the second quarter, including Value Aligned Research Advisors’ approximately $53.6 million stake.

Innio N.V. (NASDAQ:INIO - Get Free Report) shares hit a new 52-week low during trading on Friday . The stock traded as low as $21.69 and last traded at $21.72, with a volume of 353441 shares traded. The stock had previously closed at $22.54.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on INIO shares. Deutsche Bank Aktiengesellschaft initiated coverage on Innio in a research note on Monday, June 29th. They issued a "hold" rating and a $41.00 price objective on the stock. Citigroup started coverage on shares of Innio in a report on Monday, June 29th. They set a "neutral" rating and a $42.00 price objective on the stock. Zacks Research raised shares of Innio to a "hold" rating in a research note on Tuesday, June 30th. Bank of America initiated coverage on shares of Innio in a research report on Monday, June 29th. They set a "buy" rating and a $46.00 target price on the stock. Finally, Wall Street Zen upgraded Innio to a "hold" rating in a research report on Saturday, June 13th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Innio currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.90.

Innio Price Performance

The stock has a 50 day moving average of $29.74.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of INIO. Wellington Management Group LLP acquired a new stake in Innio in the 2nd quarter valued at approximately $1,117,000. Readystate Asset Management LP acquired a new position in Innio during the 2nd quarter worth approximately $3,975,000. Value Aligned Research Advisors LLC acquired a new position in Innio during the 2nd quarter worth approximately $53,605,000. Finally, Troluce Capital Advisors LLC bought a new position in shares of Innio during the 2nd quarter worth approximately $1,483,000.

Innio Company Profile

INNIO is a provider of energy solutions, offering reciprocating gas engines, power generation systems, and related services for distributed power generation and gas compression applications. Its portfolio is designed to support customers in industries such as utilities, data centers, agriculture, wastewater, and oil and gas, where reliable on-site power and efficiency are important.

The company is best known for its Jenbacher and Waukesha brands, which are used in engines and power systems that can run on natural gas, biogas, and other gaseous fuels.

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