Innio (NASDAQ:INIO) Stock Jumps 9.3% - Time to Buy?

Key Points

• Innio shares rose 9.3% to about $15.05, while trading volume was roughly 95% below its daily average.
• Analysts’ consensus rating is Moderate Buy, with a $36.80 average price target. JPMorgan cut its target to $33, while RBC lowered its target to $35 despite upgrading its rating to Outperform.
• Innio reported quarterly EPS of $0.15, beating the $0.11 consensus, on revenue of $1.17 billion.

Innio N.V. (NASDAQ:INIO - Get Free Report) shares were up 9.3% on Wednesday. The stock traded as high as $14.94 and last traded at $15.0450. Approximately 280,734 shares were traded during trading, a decline of 95% from the average daily volume of 5,245,445 shares. The stock had previously closed at $13.77.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Innio from $40.00 to $33.00 and set an "overweight" rating on the stock in a research note on Monday, October 19th. Robert W. Baird set a $37.00 price objective on shares of Innio in a research note on Wednesday, July 29th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $31.00 target price on shares of Innio in a report on Tuesday, October 27th. Wall Street Zen raised shares of Innio from a "hold" rating to a "buy" rating in a research note on Saturday, October 31st. Finally, Royal Bank Of Canada upgraded shares of Innio from a "sector perform" rating to an "outperform" rating and lowered their target price for the company from $39.00 to $35.00 in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Innio currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.80.

Innio Stock Performance

The firm has a market cap of $11.28 billion and a PE ratio of 187.20. The company has a debt-to-equity ratio of 7.50, a quick ratio of 0.80 and a current ratio of 1.27. The business's 50 day moving average is $18.13.

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

Institutional Investors Weigh In On Innio

Hedge funds have recently made changes to their positions in the stock. Dragoneer Investment Group LLC purchased a new position in Innio during the second quarter worth approximately $112,718,000. Value Aligned Research Advisors LLC acquired a new stake in shares of Innio in the second quarter worth approximately $53,605,000. Junto Capital Management LP acquired a new position in Innio during the 2nd quarter worth approximately $26,193,000. Fourier Capital Management Ltd boosted its stake in Innio by 229.0% during the 3rd quarter. Fourier Capital Management Ltd now owns 491,334 shares of the company's stock valued at $8,908,000 after acquiring an additional 342,004 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Innio during the second quarter valued at $13,842,000.

About Innio

INNIO Group is an energy technology company that designs and manufactures reciprocating gas engines and related power generation and compression systems. Its products are marketed under the Jenbacher and Waukesha brands, alongside digital monitoring, maintenance and service offerings. The company's equipment is used in applications including onsite and distributed power generation, industrial operations and gas compression. INNIO supports customers in markets around the world and offers solutions designed to operate with fuels such as natural gas and biogas.

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