Innio (NASDAQ:INIO) Stock Price Up 11.6% – Here’s What Happened

Innio N.V. (NASDAQ:INIO) shares traded up 11.6% during mid-day trading on Tuesday . The stock traded as high as $30.68 and last traded at $30.6430. 2,252,515 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 5,018,710 shares. The stock had previously closed at $27.47.

Analysts Set New Price Targets

Several research firms have recently weighed in on INIO. JPMorgan Chase & Co. initiated coverage on shares of Innio in a research report on Monday, June 29th. They issued an “overweight” rating and a $44.00 target price for the company. Royal Bank Of Canada assumed coverage on Innio in a research note on Monday, June 29th. They issued a “sector perform” rating and a $39.00 price target for the company. Zacks Research raised Innio to a “hold” rating in a report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft started coverage on Innio in a research report on Monday, June 29th. They issued a “hold” rating and a $41.00 target price for the company. Finally, UBS Group began coverage on Innio in a report on Monday, June 29th. They issued a “buy” rating and a $47.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Innio currently has an average rating of “Moderate Buy” and an average price target of $44.60.

Innio Price Performance

Innio Company Profile

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.