Inno (NASDAQ:INHD) Trading Down 6.7% – Should You Sell?

Inno Holdings Inc. (NASDAQ:INHD)’s stock price was down 6.7% during mid-day trading on Monday . The company traded as low as $6.59 and last traded at $6.71. Approximately 76,630 shares traded hands during trading, a decline of 91% from the average daily volume of 839,070 shares. The stock had previously closed at $7.19.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of Inno from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Inno has a consensus rating of “Sell”.

Inno Price Performance

The company’s 50 day simple moving average is $28.28 and its 200 day simple moving average is $19.03. The firm has a market cap of $16.37 million, a price-to-earnings ratio of -0.04 and a beta of -23.74.

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

Hedge Funds Weigh In On Inno

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in shares of Inno by 48.6% during the second quarter. Geode Capital Management LLC now owns 31,128 shares of the company’s stock worth $43,000 after buying an additional 10,177 shares in the last quarter. Two Sigma Investments LP purchased a new position in Inno in the third quarter worth approximately $58,000. T3 Companies LLC purchased a new position in Inno in the fourth quarter worth approximately $41,000. Jane Street Group LLC purchased a new position in Inno in the fourth quarter worth approximately $75,000. Finally, Virtu Financial LLC acquired a new position in Inno during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 0.16% of the company’s stock.

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.