Innio (NASDAQ:INIO) Stock Price Up 5.4% – Time to Buy?

Innio N.V. (NASDAQ:INIO) shares were up 5.4% during trading on Wednesday . The company traded as high as $23.05 and last traded at $23.14. Approximately 434,128 shares were traded during trading, a decline of 91% from the average session volume of 4,588,581 shares. The stock had previously closed at $21.96.

Analyst Ratings Changes

Several brokerages have recently weighed in on INIO. UBS Group assumed coverage on Innio in a research report on Monday, June 29th. They issued a “buy” rating and a $47.00 target price for the company. Bank of America started coverage on Innio in a research report on Monday, June 29th. They set a “buy” rating and a $46.00 price target on the stock. Royal Bank Of Canada upgraded Innio from a “sector perform” rating to an “outperform” rating and decreased their price target for the stock from $39.00 to $35.00 in a report on Thursday, July 30th. The Goldman Sachs Group started coverage on shares of Innio in a research report on Monday, June 29th. They issued a “buy” rating and a $42.00 price objective for the company. Finally, BNP Paribas Exane began coverage on shares of Innio in a research note on Monday, June 29th. They set an “outperform” rating and a $48.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $42.90.

Innio Stock Performance

The business’s 50-day moving average price is $29.74.

Innio (NASDAQ:INIO) last announced its earnings results on Tuesday, July 28th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. The business had revenue of $937.70 million for the quarter. On average, analysts anticipate that Innio N.V. will post 0.37 EPS for the current year.

Institutional Investors Weigh In On Innio

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP purchased a new position in shares of Innio during the 2nd quarter valued at approximately $1,117,000. Troluce Capital Advisors LLC bought a new stake in shares of Innio in the second quarter worth $1,483,000. Readystate Asset Management LP bought a new stake in shares of Innio in the second quarter worth $3,975,000. Finally, Value Aligned Research Advisors LLC acquired a new stake in Innio in the second quarter valued at $53,605,000.

About Innio

INNIO is a provider of energy solutions, offering reciprocating gas engines, power generation systems, and related services for distributed power generation and gas compression applications. Its portfolio is designed to support customers in industries such as utilities, data centers, agriculture, wastewater, and oil and gas, where reliable on-site power and efficiency are important.

The company is best known for its Jenbacher and Waukesha brands, which are used in engines and power systems that can run on natural gas, biogas, and other gaseous fuels.