Innio (NASDAQ:INIO) Sets New 12-Month Low - Should You Sell?

Key Points

• Innio shares fell 8.1% to a new 52-week low of $18.90, well below the 50-day moving average of $25.86.
• Despite the selloff, analysts maintain a “Moderate Buy” consensus with an average price target of $42.90; the company also exceeded quarterly EPS expectations, reporting $0.08 versus $0.05 expected.
• Several institutional investors, including Dragoneer Investment Group and Junto Capital Management, established sizable new positions in Innio during the second quarter.

Shares of Innio N.V. (NASDAQ:INIO - Get Free Report) hit a new 52-week low during trading on Monday . The stock traded as low as $18.90 and last traded at $18.9680, with a volume of 137496 shares. The stock had previously closed at $20.35.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on INIO. Deutsche Bank Aktiengesellschaft began coverage on shares of Innio in a research note on Monday, June 29th. They issued a "hold" rating and a $41.00 price objective for the company. Zacks Research raised shares of Innio to a "hold" rating in a research report on Tuesday, June 30th. The Goldman Sachs Group assumed coverage on shares of Innio in a research note on Monday, June 29th. They set a "buy" rating and a $42.00 price target for the company. Royal Bank Of Canada raised Innio from a "sector perform" rating to an "outperform" rating and decreased their price objective for the company from $39.00 to $35.00 in a report on Thursday, July 30th. Finally, Robert W. Baird set a $37.00 price objective on Innio in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Innio currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.90.

Innio Stock Down 8.1%

The stock has a 50-day moving average of $25.86.

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

Institutional Investors Weigh In On Innio

Hedge funds have recently added to or reduced their stakes in the stock. Junto Capital Management LP acquired a new stake in Innio in the 2nd quarter valued at about $26,193,000. Dragoneer Investment Group LLC acquired a new position in shares of Innio during the second quarter worth approximately $112,718,000. WINTON GROUP Ltd bought a new stake in shares of Innio during the second quarter valued at approximately $2,990,000. Squarepoint Ops LLC acquired a new stake in shares of Innio in the second quarter valued at approximately $13,842,000. Finally, Readystate Asset Management LP acquired a new stake in shares of Innio in the second quarter valued at approximately $3,975,000.

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.

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