Wellington Management Group LLP Buys Shares of 28,248 Innio N.V. $INIO

Wellington Management Group LLP purchased a new position in shares of Innio N.V. (NASDAQ:INIO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,248 shares of the company’s stock, valued at approximately $1,117,000.

Innio Trading Up 3.8%

Shares of NASDAQ INIO opened at $20.35 on Friday. The business’s 50-day moving average is $25.86. Innio N.V. has a 1-year low of $19.04 and a 1-year high of $42.95.

Innio (NASDAQ:INIO) last announced its quarterly earnings data on Tuesday, July 28th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The company had revenue of $937.70 million during the quarter. On average, research analysts expect that Innio N.V. will post 0.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Citigroup assumed coverage on Innio in a research note on Monday, June 29th. They set a “neutral” rating and a $42.00 target price on the stock. Weiss Ratings began coverage on Innio in a research report on Monday, August 31st. They issued a “sell (d)” rating for the company. Bank of America initiated coverage on shares of Innio in a research note on Monday, June 29th. They set a “buy” rating and a $46.00 price target on the stock. The Goldman Sachs Group began coverage on shares of Innio in a research report on Monday, June 29th. They set a “buy” rating and a $42.00 price target on the stock. Finally, JPMorgan Chase & Co. assumed coverage on shares of Innio in a research note on Monday, June 29th. They issued an “overweight” rating and a $44.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.90.

About Innio

INNIO Group is an energy technology company that develops and provides power generation and gas compression solutions. Its principal product lines are marketed under the Jenbacher and Waukesha brands, which serve distributed power generation, combined heat and power, and industrial and commercial energy applications.

The company manufactures gas engines and related systems designed to operate on fuels including natural gas, biogas, landfill gas and hydrogen blends. Its offerings also include microgrid and energy-management solutions, aftermarket services, parts and maintenance, and digital monitoring through its myPlant platform.