Inno (NASDAQ:INHD) Issues Earnings Results

Inno (NASDAQ:INHD) announced its quarterly earnings data on Friday. The company reported ($0.07) earnings per share for the quarter, Zacks reports. Inno had a negative net margin of 158.32% and a negative return on equity of 24.17%.

Inno Price Performance

Shares of INHD traded down $0.01 during midday trading on Friday, reaching $0.08. The stock had a trading volume of 15,995,957 shares, compared to its average volume of 13,748,121. The company’s fifty day simple moving average is $0.73 and its two-hundred day simple moving average is $6.30. Inno has a 1-year low of $0.07 and a 1-year high of $474.72. The company has a market cap of $642,524.00, a price-to-earnings ratio of -0.01 and a beta of -0.58.

Inno shares are scheduled 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.

Wall Street Analyst Weigh In

INHD has been the topic of a number of analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Inno in a report on Tuesday, April 21st. Wall Street Zen lowered shares of Inno from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Inno presently has an average rating of “Sell”.

Institutional Investors Weigh In On Inno

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new stake in Inno during the 4th quarter worth $36,000. Geode Capital Management LLC raised its stake in 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 acquiring an additional 10,177 shares in the last quarter. Two Sigma Investments LP purchased a new position in Inno during the 3rd quarter worth $58,000. Finally, Jane Street Group LLC purchased a new position in Inno during the 4th quarter worth $75,000. 0.16% of the stock is currently owned by institutional investors and hedge funds.

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.