Innio (NASDAQ:INIO) Shares Climb 10.7% - Time to Buy?

Key Points

• Innio shares rose 10.7% to $18.165 during midday trading, although volume was 63% below the average session level.
• Analysts are broadly positive, with a consensus “Moderate Buy” rating and an average price target of $36.80—roughly double the trading price cited in the article.
• Innio exceeded quarterly earnings expectations, reporting $0.15 in EPS versus an estimated $0.11 on $1.17 billion in revenue; institutional investors also recently initiated or increased positions.

Innio N.V. (NASDAQ:INIO - Get Free Report)'s share price was up 10.7% during mid-day trading on Tuesday. The stock traded as high as $17.95 and last traded at $18.1650. 1,915,875 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 5,148,723 shares. The stock had previously closed at $16.41.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Innio from a "hold" rating to a "buy" rating in a research report on Saturday. Royal Bank Of Canada raised Innio from a "sector perform" rating to an "outperform" rating and lowered their price objective for the company from $39.00 to $35.00 in a research report on Thursday, July 30th. Morgan Stanley increased their target price on Innio from $40.00 to $42.00 and gave the company an "overweight" rating in a research note on Wednesday, October 28th. Citigroup reduced their target price on Innio from $22.00 to $21.00 and set a "neutral" rating for the company in a report on Wednesday, October 28th. Finally, Robert W. Baird set a $37.00 price target on Innio in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $36.80.

Innio Stock Up 10.4%

The company has a market capitalization of $13.59 billion and a PE ratio of 226.81. The company's fifty day moving average is $18.97. The company has a debt-to-equity ratio of 7.50, a current ratio of 1.27 and a quick ratio of 0.79.

Innio (NASDAQ:INIO - Get Free Report) last posted its earnings results on Tuesday, October 27th. The company reported $0.15 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.04. The business had revenue of $1.17 billion during the quarter. Innio had a net margin of 2.71% and a return on equity of 63.87%. As a group, analysts predict that Innio N.V. will post 0.40 EPS for the current year.

Hedge Funds Weigh In On Innio

Several institutional investors have recently made changes to their positions in the business. Chicago Partners Investment Group LLC purchased a new stake in shares of Innio in the 3rd quarter worth $157,000. Sterling Capital Management LLC bought a new position in Innio in the 3rd quarter worth $43,000. HBK Investments L P purchased a new position in Innio during the second quarter valued at $6,031,000. Junto Capital Management LP purchased a new position in Innio during the second quarter valued at $26,193,000. Finally, Dragoneer Investment Group LLC bought a new stake in Innio during the second quarter valued at about $112,718,000.

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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