Short Interest in Inno Holdings Inc. (NASDAQ:INHD) Rises By 32.0%

Inno Holdings Inc. (NASDAQ:INHD) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 326,451 shares, a growth of 32.0% from the March 15th total of 247,392 shares. Based on an average daily volume of 100,308 shares, the short-interest ratio is currently 3.3 days. Approximately 3.9% of the company’s shares are short sold.

Analysts Set New Price Targets

INHD has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Inno in a research note on Thursday, January 22nd. Wall Street Zen downgraded Inno from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Inno has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC acquired a new position in Inno in the 4th quarter worth about $75,000. Two Sigma Investments LP acquired a new stake in shares of Inno during the 3rd quarter valued at about $58,000. T3 Companies LLC acquired a new stake in shares of Inno during the 4th quarter valued at about $41,000. Virtu Financial LLC bought a new stake in shares of Inno in the 4th quarter valued at approximately $36,000. Finally, Geode Capital Management LLC increased its holdings in Inno by 48.6% in the second quarter. Geode Capital Management LLC now owns 31,128 shares of the company’s stock worth $43,000 after buying an additional 10,177 shares during the last quarter. Hedge funds and other institutional investors own 0.16% of the company’s stock.

Inno Price Performance

INHD traded down $0.00 on Wednesday, reaching $0.19. 6,040,374 shares of the company traded hands, compared to its average volume of 15,926,672. Inno has a 52-week low of $0.17 and a 52-week high of $474.72. The company has a market cap of $1.60 million, a price-to-earnings ratio of -0.01 and a beta of -0.58. The stock’s 50 day moving average price is $0.95 and its 200-day moving average price is $8.53.

Inno (NASDAQ:INHD) last issued its earnings results on Monday, December 15th. The company reported $3.60 earnings per share (EPS) for the quarter. Inno had a negative net margin of 158.32% and a negative return on equity of 24.17%. The company had revenue of $1.09 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.