Innio (NASDAQ:INIO) Shares Down 5.3% – Here’s What Happened

Innio N.V. (NASDAQ:INIO) dropped 5.3% during trading on Tuesday . The stock traded as low as $19.16 and last traded at $19.2160. Approximately 2,379,375 shares were traded during trading, a decline of 50% from the average daily volume of 4,730,637 shares. The stock had previously closed at $20.30.

Analysts Set New Price Targets

Several analysts have commented on the company. BNP Paribas Exane started coverage on Innio in a report on Monday, June 29th. They issued an “outperform” rating and a $48.00 price objective on the stock. Zacks Research upgraded Innio to a “hold” rating in a report on Tuesday, June 30th. Robert W. Baird set a $37.00 target price on Innio in a research note on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Innio in a research report on Monday, June 29th. They set a “hold” rating and a $41.00 price target for the company. Finally, Weiss Ratings began coverage on shares of Innio in a research note on Monday, August 31st. They issued a “sell (d)” rating on the stock. 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.90.

Innio Price Performance

The stock’s 50 day moving average price is $24.13.

Innio (NASDAQ:INIO) last released its quarterly 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 firm had revenue of $937.70 million during the quarter. As a group, sell-side analysts forecast that Innio N.V. will post 0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Innio

Large investors have recently bought and sold shares of the company. Wellington Management Group LLP acquired a new position in shares of Innio in the second quarter valued at approximately $1,117,000. Troluce Capital Advisors LLC acquired a new position in Innio in the 2nd quarter worth $1,483,000. WINTON GROUP Ltd bought a new position in Innio during the 2nd quarter worth about $2,990,000. Readystate Asset Management LP acquired a new stake in shares of Innio in the 2nd quarter valued at about $3,975,000. Finally, HBK Investments L P bought a new stake in shares of Innio in the second quarter valued at about $6,031,000.

Innio Company Profile

INNIO Group is an energy technology company that develops and provides power generation and gas compression solutions. Its principal product lines are marketed under the Jenbacher and Waukesha brands, which serve distributed power generation, combined heat and power, and industrial and commercial energy applications.

The company manufactures gas engines and related systems designed to operate on fuels including natural gas, biogas, landfill gas and hydrogen blends. Its offerings also include microgrid and energy-management solutions, aftermarket services, parts and maintenance, and digital monitoring through its myPlant platform.