Innio Target of Unusually Large Options Trading (NASDAQ:INIO)

Innio N.V. (NASDAQ:INIO) was the target of unusually large options trading activity on Thursday. Traders bought 18,418 put options on the stock. This is an increase of approximately 9,749% compared to the typical daily volume of 187 put options.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Royal Bank Of Canada upgraded Innio from a “sector perform” rating to an “outperform” rating and cut their price target for the stock from $39.00 to $35.00 in a research note on Thursday, July 30th. Citigroup started coverage on Innio in a report on Monday, June 29th. They issued a “neutral” rating and a $42.00 target price on the stock. Zacks Research raised Innio to a “hold” rating in a research note on Tuesday, June 30th. BNP Paribas Exane assumed coverage on Innio in a research report on Monday, June 29th. They issued an “outperform” rating and a $48.00 price target for the company. Finally, Wall Street Zen raised shares of Innio to a “hold” rating in a research report on Saturday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Innio has an average rating of “Moderate Buy” and a consensus target price of $42.90.

Innio Stock Performance

Shares of NASDAQ INIO traded up $1.17 during midday trading on Thursday, reaching $19.88. 4,544,884 shares of the stock traded hands, compared to its average volume of 4,536,589. Innio has a one year low of $17.45 and a one year high of $42.95. The stock has a 50 day moving average of $24.85.

Innio (NASDAQ:INIO) last released its quarterly earnings data on Tuesday, July 28th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The company had revenue of $937.70 million during the quarter. As a group, equities analysts predict that Innio will post 0.37 EPS for the current fiscal year.

About Innio

INNIO Group is an energy technology company that develops and provides power generation and gas compression solutions. Its principal product lines are marketed under the Jenbacher and Waukesha brands, which serve distributed power generation, combined heat and power, and industrial and commercial energy applications.

The company manufactures gas engines and related systems designed to operate on fuels including natural gas, biogas, landfill gas and hydrogen blends. Its offerings also include microgrid and energy-management solutions, aftermarket services, parts and maintenance, and digital monitoring through its myPlant platform.