Inno Holdings Inc. (NASDAQ:INHD) Short Interest Down 93.2% in August

Inno Holdings Inc. (NASDAQ:INHD) saw a significant decline in short interest during the month of August. As of August 14th, there was short interest totaling 185,748 shares, a decline of 93.2% from the July 30th total of 2,721,858 shares. Currently, 7.4% of the company’s stock are sold short. Based on an average daily trading volume, of 1,211,571 shares, the short-interest ratio is currently 0.2 days.

Inno Trading Down 1.8%

Shares of INHD traded down $0.12 on Tuesday, reaching $6.59. 65,565 shares of the company’s stock traded hands, compared to its average volume of 842,946. The stock has a market cap of $16.61 million, a PE ratio of -0.04 and a beta of -23.74. The stock’s 50 day simple moving average is $28.28 and its two-hundred day simple moving average is $19.03. Inno has a 52-week low of $1.01 and a 52-week high of $7,651.20.

Inno (NASDAQ:INHD) last posted its quarterly earnings data on Tuesday, August 18th. The company reported ($0.70) earnings per share for the quarter. The business had revenue of $2.07 million during the quarter. Inno had a negative return on equity of 9.47% and a negative net margin of 72.63%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Inno from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INHD. Geode Capital Management LLC increased its stake in shares of Inno by 48.6% during the 2nd quarter. Geode Capital Management LLC now owns 31,128 shares of the company’s stock worth $43,000 after purchasing an additional 10,177 shares during the last quarter. Virtu Financial LLC purchased a new position in Inno in the fourth quarter valued at approximately $36,000. T3 Companies LLC bought a new position in Inno during the fourth quarter valued at $41,000. Two Sigma Investments LP bought a new position in Inno during the third quarter valued at $58,000. Finally, Jane Street Group LLC purchased a new stake in Inno in the fourth quarter worth $75,000. 0.16% of the stock is currently owned by hedge funds and other institutional investors.

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.