Inno Stock Scheduled to Reverse Split on Monday, May 4th (NASDAQ:INHD)

Inno Holdings Inc. (NASDAQ:INHD)’s stock is going to reverse split on Monday, May 4th. The 1-20 reverse split was announced on Wednesday, April 29th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, May 1st.

Inno Stock Performance

Shares of NASDAQ INHD traded down $0.03 during mid-day trading on Thursday, reaching $0.09. 45,900,119 shares of the company were exchanged, compared to its average volume of 52,933,988. Inno has a 52 week low of $0.08 and a 52 week high of $474.72. The company’s 50 day moving average price is $0.75 and its 200 day moving average price is $6.34.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Inno in a research note on Tuesday, April 21st. Wall Street Zen downgraded shares of Inno from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Hedge Funds Weigh In On Inno

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Inno by 48.6% during the second quarter. Geode Capital Management LLC now owns 31,128 shares of the company’s stock valued at $43,000 after buying an additional 10,177 shares during the period. Virtu Financial LLC purchased a new position in shares of Inno during the fourth quarter valued at about $36,000. T3 Companies LLC purchased a new position in shares of Inno during the fourth quarter valued at about $41,000. Two Sigma Investments LP purchased a new position in shares of Inno during the third quarter valued at about $58,000. Finally, Jane Street Group LLC purchased a new position in shares of Inno during the fourth quarter valued at about $75,000. Hedge funds and other institutional investors own 0.16% of the company’s stock.

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.