Inno Holdings Inc. (NASDAQ:INHD) Sees Significant Decrease in Short Interest

Inno Holdings Inc. (NASDAQ:INHD) saw a significant drop in short interest in September. As of September 15th, there was short interest totaling 49,699 shares, a drop of 54.4% from the August 31st total of 108,982 shares. Approximately 2.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 80,587 shares, the short-interest ratio is presently 0.6 days.

Inno Stock Performance

NASDAQ INHD traded up $0.17 during mid-day trading on Wednesday, reaching $3.34. 20,688 shares of the stock were exchanged, compared to its average volume of 2,449,427. Inno has a 1-year low of $1.01 and a 1-year high of $1,656.00. The business’s fifty day simple moving average is $10.60 and its 200 day simple moving average is $15.89. The stock has a market capitalization of $8.42 million, a PE ratio of -0.57 and a beta of -24.12.

Inno (NASDAQ:INHD) last issued its quarterly earnings results on Tuesday, August 18th. The company reported ($0.70) earnings per share for the quarter. Inno had a negative net margin of 72.63% and a negative return on equity of 9.47%. The business had revenue of $2.07 million during the quarter.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Weiss Ratings downgraded Inno from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, September 24th. Wall Street Zen upgraded Inno to a “sell” rating in a research report on Saturday, September 19th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Hedge Funds Weigh In On Inno

A hedge fund recently bought a new position in Inno stock. T3 Companies LLC purchased a new position in Inno Holdings Inc. (NASDAQ:INHD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 36,245 shares of the company’s stock, valued at approximately $41,000. T3 Companies LLC owned about 0.89% of Inno at the end of the most recent quarter. Institutional investors own 0.16% of the company’s stock.

Inno Company Profile

Inno Holdings Inc is a construction technology company focused on the design, development and manufacture of prefabricated modular buildings and related construction products. The company aims to provide alternatives to conventional construction through factory-produced building components and streamlined assembly processes.

Its offerings include modular residential structures, prefabricated homes and light-gauge steel framing systems. These products are intended for applications such as housing and other building projects, with an emphasis on reducing construction time and improving manufacturing efficiency.

Inno Holdings is headquartered in Austin, Texas.