Innio (NASDAQ:INIO) Stock Price Down 5.3% – Time to Sell?

Shares of Innio N.V. (NASDAQ:INIO) traded down 5.3% on Tuesday . The stock traded as low as $19.16 and last traded at $19.2160. Approximately 2,379,375 shares changed hands during trading, a decline of 50% from the average session volume of 4,730,637 shares. The stock had previously closed at $20.30.

Analyst Ratings Changes

INIO has been the subject of a number of research reports. Weiss Ratings initiated coverage on Innio in a report on Monday, August 31st. They set a “sell (d)” rating for the company. Robert W. Baird set a $37.00 price target on Innio in a research report on Wednesday, July 29th. Morgan Stanley started coverage on shares of Innio in a research note on Monday, June 29th. They set an “overweight” rating and a $47.00 price target for the company. BNP Paribas Exane assumed coverage on shares of Innio in a report on Monday, June 29th. They issued an “outperform” rating and a $48.00 price objective on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Innio in a research report on Monday, June 29th. They issued a “buy” rating and a $42.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.90.

Innio Price Performance

The stock has a fifty day moving average price of $23.70.

Innio (NASDAQ:INIO) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $937.70 million during the quarter. Equities analysts expect that Innio N.V. will post 0.37 earnings per share for the current fiscal year.

Institutional Trading of Innio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. HBK Investments L P bought a new position in shares of Innio in the 2nd quarter valued at about $6,031,000. Junto Capital Management LP bought a new stake in shares of Innio in the 2nd quarter valued at about $26,193,000. Dragoneer Investment Group LLC acquired a new stake in Innio in the 2nd quarter valued at about $112,718,000. WINTON GROUP Ltd bought a new position in Innio during the second quarter worth about $2,990,000. Finally, Squarepoint Ops LLC bought a new position in Innio during the second quarter worth about $13,842,000.

About Innio

INNIO Group is an energy technology company that develops and provides power generation and gas compression solutions. Its principal product lines are marketed under the Jenbacher and Waukesha brands, which serve distributed power generation, combined heat and power, and industrial and commercial energy applications.

The company manufactures gas engines and related systems designed to operate on fuels including natural gas, biogas, landfill gas and hydrogen blends. Its offerings also include microgrid and energy-management solutions, aftermarket services, parts and maintenance, and digital monitoring through its myPlant platform.