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

INNEOVA Holdings Limited (NASDAQ:INEO) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 24,424 shares, a decline of 56.0% from the August 31st total of 55,555 shares. Based on an average trading volume of 17,156 shares, the short-interest ratio is currently 1.4 days. Approximately 0.2% of the company’s shares are short sold.

Analysts Set New Price Targets

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

INNEOVA Trading Down 4.0%

Shares of NASDAQ:INEO traded down $0.03 during midday trading on Monday, hitting $0.61. 13,292 shares of the stock traded hands, compared to its average volume of 210,890. The business’s 50 day moving average is $0.60 and its two-hundred day moving average is $0.59. 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 one year low of $0.44 and a one year high of $1.20.

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.