Inno Holdings Inc. (NASDAQ:INHD) Sees Large Increase in Short Interest

Inno Holdings Inc. (NASDAQ:INHD) saw a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 432,390 shares, a growth of 342.5% from the January 29th total of 97,721 shares. Currently, 5.1% of the shares of the company are sold short. Based on an average trading volume of 985,469 shares, the short-interest ratio is currently 0.4 days. Based on an average trading volume of 985,469 shares, the short-interest ratio is currently 0.4 days. Currently, 5.1% of the shares of the company are sold short.

Inno Stock Down 2.7%

Shares of INHD traded down $0.03 during mid-day trading on Friday, reaching $1.08. The company had a trading volume of 93,982 shares, compared to its average volume of 584,294. The stock has a market capitalization of $9.09 million, a P/E ratio of -0.07 and a beta of -1.19. Inno has a 52-week low of $0.97 and a 52-week high of $474.72. The stock has a 50 day moving average of $1.26 and a two-hundred day moving average of $29.68.

Inno (NASDAQ:INHD) last announced its quarterly earnings results on Tuesday, February 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter. Inno had a negative net margin of 158.32% and a negative return on equity of 24.17%. The company had revenue of $1.46 million during the quarter.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Virtu Financial LLC acquired a new stake in shares of Inno during the 4th quarter valued at about $36,000. T3 Companies LLC purchased a new position in Inno during the fourth quarter worth approximately $41,000. Geode Capital Management LLC grew its holdings in Inno by 48.6% in the second quarter. Geode Capital Management LLC now owns 31,128 shares of the company’s stock valued at $43,000 after purchasing an additional 10,177 shares during the period. Two Sigma Investments LP acquired a new stake in Inno in the third quarter valued at approximately $58,000. Finally, Jane Street Group LLC purchased a new stake in shares of Inno in the fourth quarter valued at approximately $75,000. Institutional investors and hedge funds own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wall Street Zen raised Inno from a “strong sell” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Inno in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Inno presently 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.