Short Interest in Inno Holdings Inc. (NASDAQ:INHD) Drops By 58.4%

Inno Holdings Inc. (NASDAQ:INHD) was the recipient of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totaling 101,310 shares, a decrease of 58.4% from the December 31st total of 243,287 shares. Currently, 2.5% of the company’s shares are sold short. Based on an average daily volume of 335,073 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 335,073 shares, the days-to-cover ratio is presently 0.3 days. Currently, 2.5% of the company’s shares are sold short.

Hedge Funds Weigh In On Inno

A hedge fund recently raised its stake in Inno stock. Geode Capital Management LLC lifted its position in shares of Inno Holdings Inc. (NASDAQ:INHD) by 48.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,128 shares of the company’s stock after buying an additional 10,177 shares during the quarter. Geode Capital Management LLC owned approximately 0.40% of Inno worth $43,000 at the end of the most recent quarter. Institutional investors own 0.16% of the company’s stock.

Inno Stock Down 3.2%

Shares of INHD stock traded down $0.04 during mid-day trading on Friday, reaching $1.22. 144,371 shares of the company’s stock traded hands, compared to its average volume of 267,129. The company’s 50-day moving average price is $2.44 and its 200-day moving average price is $33.97. The company has a market cap of $4.98 million, a P/E ratio of -0.06 and a beta of -1.18. Inno has a 12 month low of $1.06 and a 12 month high of $474.72.

Inno (NASDAQ:INHD) last announced its quarterly earnings data on Monday, December 15th. The company reported $3.60 earnings per share for the quarter. Inno had a negative net margin of 248.77% and a negative return on equity of 47.74%. The business had revenue of $1.09 million for the quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wall Street Zen cut Inno to a “strong sell” rating in a report on Saturday, December 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Inno in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Inno currently has an average rating of “Sell”.

Inno Company Profile

Inno Holdings Inc manufactures and sells cold-formed-steel members, castor cubes, mobile factories, and prefabricated homes in the United States. The company provides cold-formed steel framing and a mobile factory for off-site equipment rental, sales, service, and support. It serves in residential, commercial, industrial, and infrastructure projects. Inno Holdings Inc was founded in 2019 and is headquartered in Brookshire, Texas.