Short Interest in Inno Holdings Inc. (NASDAQ:INHD) Decreases By 41.3%

Inno Holdings Inc. (NASDAQ:INHD) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totaling 108,982 shares, a decrease of 41.3% from the August 15th total of 185,748 shares. Based on an average daily trading volume, of 322,021 shares, the days-to-cover ratio is presently 0.3 days. Approximately 4.3% of the shares of the stock are short sold.

Institutional Trading of Inno

A hedge fund recently bought a new stake in Inno stock. T3 Companies LLC bought a new stake in Inno Holdings Inc. (NASDAQ:INHD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 36,245 shares of the company’s stock, valued at approximately $41,000. T3 Companies LLC owned approximately 0.89% of Inno at the end of the most recent quarter. 0.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Inno from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, September 4th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Inno Price Performance

Shares of INHD stock traded down $0.51 on Friday, hitting $3.06. The stock had a trading volume of 82,792 shares, compared to its average volume of 2,581,314. The firm has a market capitalization of $7.70 million, a P/E ratio of -0.52 and a beta of -24.12. Inno has a 1 year low of $1.01 and a 1 year high of $2,001.60. The company’s 50 day moving average price is $16.40 and its 200-day moving average price is $16.91.

Inno (NASDAQ:INHD) last announced its quarterly earnings data on Tuesday, August 18th. The company reported ($0.70) earnings per share for the quarter. Inno had a negative net margin of 72.63% and a negative return on equity of 9.47%. The business had revenue of $2.07 million during the quarter.

Inno Company Profile

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. Inno Holdings Inc was founded in 2019 and is headquartered in Brookshire, Texas.