Innio (NASDAQ:INIO) Hits New 1-Year Low – Here’s Why

Innio N.V. (NASDAQ:INIO)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $29.80 and last traded at $30.7790, with a volume of 1175420 shares changing hands. The stock had previously closed at $31.58.

Wall Street Analyst Weigh In

INIO has been the subject of several research reports. The Goldman Sachs Group started coverage on shares of Innio in a research note on Monday, June 29th. They issued a “buy” rating and a $42.00 price objective for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Innio in a report on Monday, June 29th. They set a “hold” rating and a $41.00 price target for the company. Zacks Research upgraded Innio to a “hold” rating in a research note on Tuesday, June 30th. UBS Group initiated coverage on Innio in a report on Monday, June 29th. They set a “buy” rating and a $47.00 price objective on the stock. Finally, Citigroup assumed coverage on Innio in a research report on Monday, June 29th. They set a “neutral” rating and a $42.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Innio has a consensus rating of “Moderate Buy” and a consensus price target of $44.60.

Innio Stock Down 1.6%

About Innio

INNIO is a provider of energy solutions, offering reciprocating gas engines, power generation systems, and related services for distributed power generation and gas compression applications. Its portfolio is designed to support customers in industries such as utilities, data centers, agriculture, wastewater, and oil and gas, where reliable on-site power and efficiency are important.

The company is best known for its Jenbacher and Waukesha brands, which are used in engines and power systems that can run on natural gas, biogas, and other gaseous fuels.