Michael Otworth Purchases 12,000 Shares of Innventure (NASDAQ:INV) Stock

Innventure, Inc. (NASDAQ:INV) Chairman Michael Otworth acquired 12,000 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were acquired at an average price of $5.06 per share, with a total value of $60,720.00. Following the completion of the purchase, the chairman owned 3,492,607 shares of the company’s stock, valued at $17,672,591.42. This trade represents a 0.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Innventure Trading Up 0.2%

Shares of Innventure stock traded up $0.01 during trading hours on Wednesday, hitting $4.98. The company’s stock had a trading volume of 1,238,989 shares, compared to its average volume of 343,140. The business has a fifty day moving average of $4.09 and a 200 day moving average of $4.80. Innventure, Inc. has a 1-year low of $2.36 and a 1-year high of $14.95. The company has a quick ratio of 0.31, a current ratio of 0.39 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $311.10 million, a PE ratio of -3.30 and a beta of 0.07.

Innventure (NASDAQ:INV) last posted its earnings results on Thursday, November 13th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.27). Innventure had a negative net margin of 18,877.40% and a negative return on equity of 29.39%. The business had revenue of ($5.00) million for the quarter, compared to analyst estimates of $1.98 million.

Institutional Investors Weigh In On Innventure

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its position in Innventure by 937.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,074,330 shares of the company’s stock valued at $14,757,000 after buying an additional 2,778,036 shares during the last quarter. Abundance Wealth Counselors purchased a new stake in shares of Innventure during the second quarter worth about $3,621,000. Belpointe Asset Management LLC lifted its stake in shares of Innventure by 276.1% in the third quarter. Belpointe Asset Management LLC now owns 380,918 shares of the company’s stock worth $2,206,000 after acquiring an additional 279,648 shares in the last quarter. Mariner LLC purchased a new position in Innventure in the third quarter valued at about $963,000. Finally, FWG Holdings LLC boosted its holdings in Innventure by 899.9% in the second quarter. FWG Holdings LLC now owns 143,691 shares of the company’s stock valued at $711,000 after purchasing an additional 129,321 shares during the last quarter. Hedge funds and other institutional investors own 55.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Innventure in a research report on Monday, November 17th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $14.00.

About Innventure

Innventure Inc founds, funds and operates companies with a focus on transformative, sustainable technology solutions acquired or licensed from multinational corporations. Innventure Inc, formerly known as Learn CW Investment Corporation, is based in ORLANDO, Fla.