Short Interest in Inno Holdings Inc. (NASDAQ:INHD) Decreases By 41.3%
by Scott Moore · The Cerbat GemInno Holdings Inc. (NASDAQ:INHD – Get Free Report) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 108,982 shares, a decline of 41.3% from the August 15th total of 185,748 shares. Approximately 4.3% of the shares of the company are sold short. Based on an average trading volume of 322,021 shares, the short-interest ratio is currently 0.3 days.
Institutional Investors Weigh In On Inno
An institutional investor recently bought a new position in Inno stock. T3 Companies LLC bought a new position in shares of Inno Holdings Inc. (NASDAQ:INHD – Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 36,245 shares of the company’s stock, valued at approximately $41,000. T3 Companies LLC owned 0.89% of Inno at the end of the most recent quarter. 0.16% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, Weiss Ratings raised Inno from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, September 4th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.
Check Out Our Latest Analysis on Inno
Inno Stock Performance
Inno stock traded up $0.11 during trading hours on Thursday, reaching $3.56. 99,049 shares of the stock were exchanged, compared to its average volume of 2,598,927. Inno has a 52-week low of $1.01 and a 52-week high of $2,011.20. The stock has a market cap of $8.97 million, a P/E ratio of -0.60 and a beta of -24.12. The firm’s 50 day moving average is $17.12 and its 200 day moving average is $17.04.
Inno (NASDAQ:INHD – Get Free Report) last issued its earnings results on Tuesday, August 18th. The company reported ($0.70) earnings per share for the quarter. Inno had a negative net margin of 72.63% and a negative return on equity of 9.47%. The firm had revenue of $2.07 million during the quarter.
About Inno
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.