INNEOVA Holdings Limited (NASDAQ:INEO) Short Interest Update

INNEOVA Holdings Limited (NASDAQ:INEO) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 55,555 shares, an increase of 4,552.8% from the August 15th total of 1,194 shares. Based on an average daily trading volume, of 279,383 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.5% of the company’s shares are short sold.

INNEOVA Price Performance

INEO stock opened at $0.56 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 0.58. INNEOVA has a 1 year low of $0.44 and a 1 year high of $1.20. The firm has a 50-day moving average of $0.62 and a 200 day moving average of $0.59.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of INNEOVA in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

About INNEOVA

We are a Singapore-based provider of high-quality Original Equipment Manufacturer (“OEM”), third party branded and in-house branded replacement parts for motor vehicles and for non-vehicle combustion engines serving a number of industries. We distribute spare parts through operations primarily based in Singapore and global sales primarily generated from the Middle East and Asia. Through our On-Highway Business, we supply a wide range of genuine OEM and aftermarket parts for use in passenger and commercial vehicles bearing either the manufacturer’s brands or our in-house brands through SP Zone.