Short Interest in INNEOVA Holdings Limited (NASDAQ:INEO) Rises By 279.4%

INNEOVA Holdings Limited (NASDAQ:INEO) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 84,379 shares, a growth of 279.4% from the June 30th total of 22,241 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average daily volume of 93,394 shares, the days-to-cover ratio is currently 0.9 days.

Analyst Upgrades and Downgrades

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

INNEOVA Price Performance

Shares of NASDAQ INEO traded down $0.00 during mid-day trading on Friday, reaching $0.72. The company had a trading volume of 1,161,689 shares, compared to its average volume of 162,142. The business’s 50-day simple moving average is $0.63 and its 200 day simple moving average is $0.58. INNEOVA has a one year low of $0.44 and a one year high of $1.27. The company has a quick ratio of 0.58, a current ratio of 1.02 and a debt-to-equity ratio of 0.25.

INNEOVA (NASDAQ:INEO) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.03) earnings per share (EPS) for the quarter.

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.