INNEOVA Holdings Limited (NASDAQ:INEO) Sees Significant Growth in Short Interest

INNEOVA Holdings Limited (NASDAQ:INEO) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totaling 30,566 shares, a growth of 2,061.7% from the May 31st total of 1,414 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average trading volume of 144,765 shares, the days-to-cover ratio is presently 0.2 days.

INNEOVA Stock Up 3.0%

Shares of INEO stock traded up $0.02 on Friday, reaching $0.58. 13,852 shares of the stock were exchanged, compared to its average volume of 104,254. The company has a current ratio of 1.02, a quick ratio of 0.58 and a debt-to-equity ratio of 0.25. INNEOVA has a one year low of $0.44 and a one year high of $1.44. The stock has a 50 day moving average price of $0.61 and a 200 day moving average price of $0.58.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of INNEOVA in a research note on Friday, April 10th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, INNEOVA currently has a consensus rating of “Sell”.

About INNEOVA

We are a Singapore-based provider of high-quality Original Equipment Manufacturer (“OEM”), third party branded and in-house branded replacement parts for motor vehicles and for non-vehicle combustion engines serving a number of industries. We distribute spare parts through operations primarily based in Singapore and global sales primarily generated from the Middle East and Asia. Through our On-Highway Business, we supply a wide range of genuine OEM and aftermarket parts for use in passenger and commercial vehicles bearing either the manufacturer’s brands or our in-house brands through SP Zone.