INNEOVA Holdings Limited (NASDAQ:INEO) Sees Significant Decrease in Short Interest

INNEOVA Holdings Limited (NASDAQ:INEO) was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totaling 7,322 shares, a drop of 91.3% from the July 15th total of 84,379 shares. Based on an average trading volume of 283,975 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of INNEOVA in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

INNEOVA Stock Down 4.5%

INEO stock traded down $0.03 during midday trading on Tuesday, hitting $0.59. The company’s stock had a trading volume of 1,262 shares, compared to its average volume of 225,525. The firm’s 50-day moving average is $0.64 and its 200-day moving average is $0.58. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.58 and a current ratio of 1.02. INNEOVA has a 12 month low of $0.44 and a 12 month high of $1.27.

INNEOVA (NASDAQ:INEO) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.03) earnings per share for the quarter.

About INNEOVA

We are a Singapore-based provider of high-quality Original Equipment Manufacturer (“OEM”), third party branded and in-house branded replacement parts for motor vehicles and for non-vehicle combustion engines serving a number of industries. We distribute spare parts through operations primarily based in Singapore and global sales primarily generated from the Middle East and Asia. Through our On-Highway Business, we supply a wide range of genuine OEM and aftermarket parts for use in passenger and commercial vehicles bearing either the manufacturer’s brands or our in-house brands through SP Zone.