Innio (NASDAQ:INIO) Shares Down 7.4% – Time to Sell?

Innio N.V. (NASDAQ:INIO)’s share price traded down 7.4% during trading on Thursday . The stock traded as low as $23.50 and last traded at $23.3650. 1,193,361 shares changed hands during trading, a decline of 75% from the average session volume of 4,681,508 shares. The stock had previously closed at $25.22.

Wall Street Analyst Weigh In

INIO has been the subject of several recent analyst reports. Robert W. Baird set a $37.00 price objective on Innio in a research note on Wednesday, July 29th. JPMorgan Chase & Co. began coverage on shares of Innio in a report on Monday, June 29th. They set an “overweight” rating and a $44.00 price target for the company. The Goldman Sachs Group started coverage on shares of Innio in a research note on Monday, June 29th. They set a “buy” rating and a $42.00 price objective on the stock. Citigroup started 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. Finally, Deutsche Bank Aktiengesellschaft began coverage on Innio in a report on Monday, June 29th. They issued a “hold” rating and a $41.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $42.90.

Innio Stock Down 8.7%

The company’s fifty day moving average price is $31.16.

Innio (NASDAQ:INIO) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $937.70 million for the quarter. Equities analysts predict that Innio N.V. will post 0.37 EPS for the current fiscal year.

Institutional Trading of Innio

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

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.