Innio (NASDAQ:INIO) Reaches New 52-Week Low – Here’s What Happened

Innio N.V. (NASDAQ:INIO)’s share price hit a new 52-week low on Monday . The company traded as low as $18.90 and last traded at $18.9680, with a volume of 137496 shares changing hands. The stock had previously closed at $20.35.

Analyst Ratings Changes

INIO has been the topic of several research reports. Robert W. Baird set a $37.00 target price on Innio in a report on Wednesday, July 29th. BNP Paribas Exane started coverage on Innio in a report on Monday, June 29th. They set an “outperform” rating and a $48.00 price target for the company. Morgan Stanley initiated coverage on Innio in a research note on Monday, June 29th. They issued an “overweight” rating and a $47.00 price objective on the stock. The Goldman Sachs Group started coverage on Innio in a report on Monday, June 29th. They set a “buy” rating and a $42.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on Innio in a research report on Monday, June 29th. They set a “hold” rating and a $41.00 target price for the company. One equities research 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.90.

Innio Stock Performance

The company’s 50-day moving average price is $25.15.

Innio (NASDAQ:INIO) last released 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 company had revenue of $937.70 million during the quarter. As a group, analysts forecast that Innio N.V. will post 0.37 EPS for the current year.

Hedge Funds Weigh In On Innio

Several large investors have recently modified their holdings of the stock. Dragoneer Investment Group LLC purchased a new stake in Innio during the 2nd quarter valued at $112,718,000. Value Aligned Research Advisors LLC bought a new position in Innio during the second quarter valued at $53,605,000. Junto Capital Management LP bought a new position in Innio during the second quarter valued at $26,193,000. Squarepoint Ops LLC purchased a new stake in shares of Innio in the second quarter valued at $13,842,000. Finally, Readystate Asset Management LP bought a new stake in shares of Innio in the 2nd quarter worth about $3,975,000.

Innio Company Profile

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.