InnerWorkings Inc. (INWK) Sees Unusually-High Trading Volume
InnerWorkings Inc. (NASDAQ:INWK) saw strong trading volume on Thursday . 334,009 shares changed hands during mid-day 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 raised shares of InnerWorkings from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a research note on Wednesday, May 11th.
The company has a 50 day moving average of $8.72 and a 200-day moving average of $8.16. The stock’s market capitalization is $485.57 million.
InnerWorkings (NASDAQ:INWK) last posted its earnings results on Monday, August 15th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.04 by $0.07. The firm earned $269.20 million during the quarter, compared to the consensus estimate of $262.46 million. InnerWorkings’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the company posted $0.04 EPS. Equities analysts anticipate that InnerWorkings Inc. will post $0.33 earnings per share for the current fiscal year.
In other InnerWorkings news, major shareholder Sagard Capital Partners, L.P. sold 44,354 shares of the company’s stock in a transaction dated 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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