Inno Holdings Inc. (NASDAQ:INHD – Free Report)’s stock is set to reverse split on the morning of Monday, December 22nd. The 1-24 reverse split was announced on Thursday, December 18th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, December 19th.
Inno Price Performance
Shares of NASDAQ INHD traded down $0.04 during trading hours on Thursday, hitting $0.07. 43,188,173 shares of the company’s stock were exchanged, compared to its average volume of 6,634,462. The company’s 50-day moving average price is $0.72 and its 200-day moving average price is $1.72. Inno has a 1-year low of $0.07 and a 1-year high of $19.78. The stock has a market capitalization of $914,270.00, a price-to-earnings ratio of -0.09 and a beta of -1.80.
Wall Street Analyst Weigh In
INHD has been the topic of several research analyst reports. Wall Street Zen downgraded shares of Inno from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Inno in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.
Hedge Funds Weigh In On Inno
A hedge fund recently raised its stake in Inno stock. Geode Capital Management LLC grew its position in shares of Inno Holdings Inc. (NASDAQ:INHD – Free Report) by 48.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,128 shares of the company’s stock after buying an additional 10,177 shares during the quarter. Geode Capital Management LLC owned approximately 0.40% of Inno worth $43,000 as of its most recent filing with the Securities and Exchange Commission. 0.16% of the stock is currently owned by institutional investors and hedge funds.
About Inno
Inno Holdings Inc manufactures and sells cold-formed-steel members, castor cubes, mobile factories, and prefabricated homes in the United States. The company provides cold-formed steel framing and a mobile factory for off-site equipment rental, sales, service, and support. It serves in residential, commercial, industrial, and infrastructure projects.
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