Innio (NASDAQ:INIO) Trading Up 3.9% - Should You Buy?

Key Points

• Innio shares rose 3.9% to $18.13 in Tuesday trading, though volume was 84% below the average session level.
• Analysts are broadly optimistic, with a “Moderate Buy” consensus and an average price target of $42.90; UBS, Bank of America, Morgan Stanley, and JPMorgan issued bullish ratings, while Weiss Ratings issued a sell rating.
• Innio exceeded quarterly earnings expectations, reporting $0.08 EPS versus $0.05 expected and $937.7 million in revenue. Several institutional investors, including Dragoneer Investment Group, also initiated positions during the second quarter.

Innio N.V. (NASDAQ:INIO - Get Free Report)'s share price shot up 3.9% on Tuesday . The stock traded as high as $18.05 and last traded at $18.13. 720,503 shares were traded during mid-day trading, a decline of 84% from the average session volume of 4,452,212 shares. The stock had previously closed at $17.45.

Analyst Upgrades and Downgrades

Several analysts have commented on INIO shares. UBS Group assumed coverage on Innio in a report on Monday, June 29th. They issued a "buy" rating and a $47.00 price objective on the stock. Bank of America assumed coverage on Innio in a report on Monday, June 29th. They issued a "buy" rating and a $46.00 price objective on the stock. Morgan Stanley assumed coverage on shares of Innio in a research note on Monday, June 29th. They issued an "overweight" rating and a $47.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on Innio in a report on Monday, June 29th. They issued an "overweight" rating and a $44.00 target price for the company. Finally, Weiss Ratings began coverage on Innio in a report on Monday, August 31st. They issued a "sell (d)" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $42.90.

Innio Price Performance

The stock's 50-day moving average price is $25.49.

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

Institutional Investors Weigh In On Innio

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Junto Capital Management LP acquired a new stake in shares of Innio in the 2nd quarter valued at about $26,193,000. Dragoneer Investment Group LLC purchased a new position in shares of Innio in the 2nd quarter valued at approximately $112,718,000. WINTON GROUP Ltd acquired a new position in Innio in the 2nd quarter valued at $2,990,000. Squarepoint Ops LLC acquired a new position in shares of Innio during the second quarter worth about $13,842,000. Finally, Readystate Asset Management LP purchased a new position in shares of Innio during the 2nd quarter worth approximately $3,975,000.

About Innio

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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