Inno Holdings Inc. (NASDAQ:INHD) Short Interest Down 30.6% in March

Inno Holdings Inc. (NASDAQ:INHD) saw a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 247,392 shares, a decline of 30.6% from the February 26th total of 356,305 shares. Currently, 2.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 127,354 shares, the days-to-cover ratio is presently 1.9 days.

Institutional Trading of Inno

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC purchased a new stake in shares of Inno during the fourth quarter valued at approximately $75,000. Two Sigma Investments LP purchased a new position in shares of Inno in the third quarter worth $58,000. T3 Companies LLC purchased a new position in shares of Inno in the fourth quarter worth $41,000. Virtu Financial LLC bought a new stake in Inno during the 4th quarter valued at $36,000. Finally, Geode Capital Management LLC boosted its position in Inno by 48.6% during the 2nd quarter. Geode Capital Management LLC now owns 31,128 shares of the company’s stock valued at $43,000 after buying an additional 10,177 shares during the period. Institutional investors own 0.16% of the company’s stock.

Inno Trading Down 1.0%

Shares of NASDAQ:INHD traded down $0.01 on Friday, reaching $1.01. 69,619 shares of the company traded hands, compared to its average volume of 111,844. The stock has a market capitalization of $8.49 million, a P/E ratio of -0.07 and a beta of -1.07. The business’s 50-day simple moving average is $1.15 and its 200 day simple moving average is $16.04. Inno has a 52 week low of $0.97 and a 52 week high of $474.72.

Inno (NASDAQ:INHD) last released its earnings results on Monday, December 15th. The company reported $3.60 earnings per share for the quarter. The company had revenue of $1.09 million during the quarter. Inno had a negative return on equity of 24.17% and a negative net margin of 158.32%.

Analyst Upgrades and Downgrades

INHD has been the topic of a number of recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Inno in a research report on Thursday, January 22nd. Wall Street Zen lowered shares of Inno from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Inno has an average rating of “Sell”.

About Inno

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.