InnerWorkings Inc. (INWK) Sees Unusually-High Trading Volume
InnerWorkings Inc. (NASDAQ:INWK) shares saw unusually-high trading volume on Wednesday . Approximately 298,111 shares changed hands during mid-day trading, an increase of 91% from the previous session’s volume of 156,472 shares.The stock last traded at $8.95 and had previously closed at $9.20.
Separately, Zacks Investment Research upgraded InnerWorkings from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a research note on Wednesday, May 11th.
The firm’s market cap is $481.28 million. The company has a 50-day moving average of $8.69 and a 200-day moving average of $8.06.
InnerWorkings (NASDAQ:INWK) last posted its earnings results on Monday, August 15th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. The firm earned $269.20 million during the quarter, compared to the consensus estimate of $262.46 million. The business’s revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.04 EPS. On average, equities analysts forecast that InnerWorkings Inc. will post $0.33 EPS for the current year.
In other news, major shareholder Sagard Capital Partners, L.P. sold 44,354 shares of InnerWorkings stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $9.15, for a total value of $405,839.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
InnerWorkings, Inc is a marketing execution company. The Company’s software applications and databases create an integrated solution that stores, analyzes and tracks the production capabilities of its supplier network, as well as detailed pricing data. The Company operates through three segments: North America, Latin America and EMEA.
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