InnerWorkings Inc. (INWK) Sees Large Volume Increase
InnerWorkings Inc. (NASDAQ:INWK) shares saw unusually-strong trading volume on Thursday . Approximately 334,009 shares traded hands during trading, an increase of 94% from the previous session’s volume of 171,841 shares.The stock last traded at $8.96 and had previously closed at $8.87.
Separately, Zacks Investment Research upgraded shares of InnerWorkings from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a research report on Wednesday, May 11th.
The company has a 50-day moving average of $8.71 and a 200-day moving average of $8.14. The stock’s market capitalization is $481.82 million.
InnerWorkings (NASDAQ:INWK) last issued its quarterly earnings data on Monday, August 15th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.07. The company had revenue of $269.20 million for the quarter, compared to the consensus estimate of $262.46 million. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.04 earnings per share. Equities research analysts expect that InnerWorkings Inc. will post $0.33 EPS for the current fiscal year.
In other InnerWorkings news, major shareholder Sagard Capital Partners, L.P. sold 21,454 shares of InnerWorkings stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $8.91, for a total transaction of $191,155.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
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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