Innio (NASDAQ:INIO) Shares Climb 8.5% – Time to Buy?

Innio N.V. (NASDAQ:INIO) was up 8.5% on Friday. The company traded as high as $19.73 and last traded at $19.8350. Approximately 1,243,417 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 4,828,119 shares. The stock had previously closed at $18.28.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Morgan Stanley began coverage on shares of Innio in a research report on Monday, June 29th. They set an “overweight” rating and a $47.00 target price on the stock. The Goldman Sachs Group set a $35.00 price objective on shares of Innio in a research report on Wednesday. Zacks Research upgraded shares of Innio to a “hold” rating in a research note on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Innio in a report on Monday, June 29th. They issued a “hold” rating and a $41.00 target price for the company. Finally, Royal Bank Of Canada raised Innio from a “sector perform” rating to an “outperform” rating and lowered their price target for the stock from $39.00 to $35.00 in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $42.20.

Innio Trading Up 9.1%

The stock’s 50 day simple moving average is $22.54.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of INIO. Dragoneer Investment Group LLC purchased a new stake in shares of Innio during the 2nd quarter worth $112,718,000. Value Aligned Research Advisors LLC purchased a new stake in Innio during the second quarter worth about $53,605,000. Junto Capital Management LP acquired a new position in Innio during the second quarter worth about $26,193,000. Squarepoint Ops LLC acquired a new stake in shares of Innio during the 2nd quarter valued at approximately $13,842,000. Finally, HBK Investments L P purchased a new stake in shares of Innio during the 2nd quarter worth approximately $6,031,000.

Innio Company Profile

INNIO Group Holding GmbH develops and provides energy solutions for power generation and compression applications. Its portfolio includes gas engines, combined heat and power systems, distributed energy systems, and related equipment and services designed for industrial, commercial, utility, and infrastructure customers.

The company operates through its Jenbacher and Waukesha brands. Jenbacher products are used for distributed power generation, cogeneration, renewable-gas applications, and energy-transition projects, while Waukesha products primarily serve natural-gas engine applications, including power generation and mechanical-drive systems for the oil and gas industry.