Morgan Stanley Has Lowered Expectations for Innio (NASDAQ:INIO) Stock Price

Innio (NASDAQ:INIO) had its target price cut by research analysts at Morgan Stanley from $47.00 to $40.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 135.59% from the company’s current price.

A number of other brokerages also recently weighed in on INIO. Deutsche Bank Aktiengesellschaft initiated coverage on Innio in a research note on Monday, June 29th. They issued a “hold” rating and a $41.00 target price on the stock. JPMorgan Chase & Co. started coverage on Innio in a report on Monday, June 29th. They set an “overweight” rating and a $44.00 target price for the company. UBS Group initiated coverage on shares of Innio in a research note on Monday, June 29th. They set a “buy” rating and a $47.00 price target on the stock. Bank of America assumed coverage on Innio in a report on Monday, June 29th. They set a “buy” rating and a $46.00 price target on the stock. Finally, Zacks Research raised Innio to a “hold” rating in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $39.50.

Innio Trading Down 7.3%

NASDAQ:INIO traded down $1.33 during trading hours on Wednesday, hitting $16.98. 917,042 shares of the company were exchanged, compared to its average volume of 4,811,934. Innio has a one year low of $16.84 and a one year high of $42.95. The company has a quick ratio of 0.79, a current ratio of 1.25 and a debt-to-equity ratio of 11.90. The business’s fifty day moving average is $21.62. The company has a market cap of $12.73 billion and a PE ratio of 212.23.

Innio (NASDAQ:INIO) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $937.70 million for the quarter. Equities research analysts predict that Innio will post 0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Innio

Several institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP purchased a new position in shares of Innio in the second quarter worth $1,117,000. Troluce Capital Advisors LLC bought a new position in shares of Innio during the 2nd quarter valued at about $1,483,000. WINTON GROUP Ltd bought a new position in shares of Innio during the 2nd quarter valued at about $2,990,000. Readystate Asset Management LP bought a new position in shares of Innio during the 2nd quarter valued at about $3,975,000. Finally, HBK Investments L P purchased a new position in shares of Innio during the second quarter valued at about $6,031,000.

About Innio

INNIO Group Holding GmbH develops and provides energy solutions for power generation and compression applications. Its portfolio includes gas engines, combined heat and power systems, distributed energy systems, and related equipment and services designed for industrial, commercial, utility, and infrastructure customers.

The company operates through its Jenbacher and Waukesha brands. Jenbacher products are used for distributed power generation, cogeneration, renewable-gas applications, and energy-transition projects, while Waukesha products primarily serve natural-gas engine applications, including power generation and mechanical-drive systems for the oil and gas industry.