Innio (NASDAQ:INIO) Stock Price Target Cut by JPMorgan Chase & Co.

Innio (NASDAQ:INIO) had its target price decreased by investment analysts at JPMorgan Chase & Co. from $40.00 to $33.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 106.12% from the company’s current price.

Several other research firms also recently issued reports on INIO. BNP Paribas Exane began coverage on shares of Innio in a research note on Monday, June 29th. They issued an “outperform” rating and a $48.00 price objective for the company. Citigroup cut their target price on Innio from $30.00 to $22.00 and set a “neutral” rating on the stock in a research report on Monday, October 12th. Weiss Ratings downgraded Innio from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday. Royal Bank Of Canada raised Innio from a “sector perform” rating to an “outperform” rating and reduced their target price for the company from $39.00 to $35.00 in a report on Thursday, July 30th. Finally, The Goldman Sachs Group set a $35.00 target price on Innio in a research report on Wednesday, September 30th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $38.40.

Innio Price Performance

Shares of Innio stock traded down $0.23 during trading hours on Monday, hitting $16.01. The company had a trading volume of 3,493,675 shares, compared to its average volume of 4,892,005. The company’s 50-day moving average price is $21.02. Innio has a twelve month low of $15.30 and a twelve month high of $42.95. The company has a debt-to-equity ratio of 11.90, a quick ratio of 0.79 and a current ratio of 1.25. The firm has a market cap of $12.01 billion and a P/E ratio of 200.13.

Innio (NASDAQ:INIO) last posted its earnings results on Tuesday, July 28th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $937.70 million during the quarter. Sell-side analysts expect that Innio will post 0.37 EPS for the current year.

Institutional Investors Weigh In On Innio

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

About Innio

INNIO is an energy technology company that provides power-generation and gas-compression solutions for industrial, commercial and utility customers. Its portfolio includes Jenbacher gas engines and Waukesha engines, along with associated equipment, digital tools and long-term service offerings.

The company’s solutions are designed for applications including combined heat and power, distributed power generation, microgrids and gas compression. INNIO supports a range of fuel sources, including natural gas, biogas and hydrogen blends, helping customers produce electricity and useful heat while supporting grid reliability and energy-system flexibility.

INNIO was established in 2018 following the acquisition of GE’s Distributed Power business by Advent International.