Innio (NASDAQ:INIO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Innio (NASDAQ:INIO) from a hold rating to a buy rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Several other analysts have also weighed in on INIO. JPMorgan Chase & Co. dropped their price objective on shares of Innio from $40.00 to $33.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Weiss Ratings downgraded Innio from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, October 14th. The Goldman Sachs Group restated a “buy” rating and set a $31.00 price target on shares of Innio in a research report on Tuesday, October 27th. Robert W. Baird set a $37.00 price target on Innio in a report on Wednesday, July 29th. Finally, Royal Bank Of Canada raised Innio from a “sector perform” rating to an “outperform” rating and dropped their price target for the company from $39.00 to $35.00 in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.80.

Innio Trading Up 0.7%

Shares of Innio stock opened at $16.41 on Friday. Innio has a 12-month low of $14.58 and a 12-month high of $42.95. The stock’s 50-day moving average price is $18.97. The company has a quick ratio of 0.79, a current ratio of 1.27 and a debt-to-equity ratio of 7.50.

Innio (NASDAQ:INIO) last released its quarterly earnings results on Tuesday, October 27th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The firm had revenue of $1.17 billion for the quarter. Innio had a net margin of 2.71% and a return on equity of 63.87%. On average, analysts predict that Innio will post 0.40 EPS for the current year.

Institutional Investors Weigh In On Innio

A number of hedge funds have recently added to or reduced their stakes in the stock. Dragoneer Investment Group LLC acquired a new stake in Innio in the 2nd quarter valued at about $112,718,000. Value Aligned Research Advisors LLC bought a new position in shares of Innio in the second quarter worth about $53,605,000. Junto Capital Management LP acquired a new position in shares of Innio during the second quarter worth approximately $26,193,000. Squarepoint Ops LLC acquired a new position in shares of Innio during the second quarter worth approximately $13,842,000. Finally, HBK Investments L P acquired a new position in shares of Innio during the second quarter worth approximately $6,031,000.

Innio Company Profile

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.