Innio (NASDAQ:INIO) Shares Gap Up – What’s Next?

Innio N.V. (NASDAQ:INIO)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $21.77, but opened at $24.60. Innio shares last traded at $25.0750, with a volume of 1,022,910 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Citigroup initiated coverage on shares of Innio in a research note on Monday, June 29th. They issued a “neutral” rating and a $42.00 target price for the company. JPMorgan Chase & Co. began coverage on shares of Innio in a research note on Monday, June 29th. They set an “overweight” rating and a $44.00 price target on the stock. UBS Group assumed coverage on shares of Innio in a report on Monday, June 29th. They set a “buy” rating and a $47.00 price target on the stock. The Goldman Sachs Group initiated coverage on shares of Innio in a report on Monday, June 29th. They issued a “buy” rating and a $42.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Innio in a research report on Monday, June 29th. They set a “hold” rating and a $41.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $42.90.

Innio Stock Up 13.8%

Innio (NASDAQ:INIO) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The company had revenue of $937.70 million for the quarter.

About Innio

INNIO is a provider of energy solutions, offering reciprocating gas engines, power generation systems, and related services for distributed power generation and gas compression applications. Its portfolio is designed to support customers in industries such as utilities, data centers, agriculture, wastewater, and oil and gas, where reliable on-site power and efficiency are important.

The company is best known for its Jenbacher and Waukesha brands, which are used in engines and power systems that can run on natural gas, biogas, and other gaseous fuels.