INNEOVA Holdings Limited (NASDAQ:INEO) Stock Short Interest Drops 56.0%

INNEOVA Holdings Limited (NASDAQ:INEO) was the target of a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 24,424 shares, a decline of 56.0% from the August 31st total of 55,555 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 17,156 shares, the short-interest ratio is presently 1.4 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of INNEOVA in a report on Wednesday, July 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

INNEOVA Trading Up 1.3%

NASDAQ:INEO traded up $0.01 during mid-day trading on Tuesday, reaching $0.60. The stock had a trading volume of 9,234 shares, compared to its average volume of 62,123. The company has a quick ratio of 0.58, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. INNEOVA has a 1-year low of $0.44 and a 1-year high of $1.20. The stock’s 50 day simple moving average is $0.59 and its two-hundred day simple moving average is $0.59.

INNEOVA Company Profile

We are a Singapore-based provider of high-quality Original Equipment Manufacturer (“OEM”), third party branded and in-house branded replacement parts for motor vehicles and for non-vehicle combustion engines serving a number of industries. We distribute spare parts through operations primarily based in Singapore and global sales primarily generated from the Middle East and Asia. Through our On-Highway Business, we supply a wide range of genuine OEM and aftermarket parts for use in passenger and commercial vehicles bearing either the manufacturer’s brands or our in-house brands through SP Zone.