Innospec (NASDAQ:IOSP) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Innospec Inc. (NASDAQ:IOSP) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $78.99 and traded as high as $86.38. Innospec shares last traded at $86.14, with a volume of 196,606 shares.

Analyst Ratings Changes

A number of equities research analysts have recently commented on IOSP shares. Wall Street Zen raised Innospec from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Zacks Research upgraded Innospec from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Innospec in a research note on Monday, December 22nd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Innospec Trading Down 0.2%

The stock has a market capitalization of $2.13 billion, a PE ratio of -2,871.33 and a beta of 0.91. The business’s 50-day moving average is $79.40 and its two-hundred day moving average is $78.99.

Insider Activity at Innospec

In other Innospec news, Director Leslie J. Parrette purchased 340 shares of Innospec stock in a transaction that occurred on Friday, November 14th. The stock was purchased at an average price of $74.09 per share, with a total value of $25,190.60. Following the completion of the acquisition, the director owned 5,837 shares of the company’s stock, valued at approximately $432,463.33. This trade represents a 6.19% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.31% of the company’s stock.

Hedge Funds Weigh In On Innospec

A number of institutional investors have recently made changes to their positions in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Innospec during the 2nd quarter valued at approximately $28,000. EverSource Wealth Advisors LLC raised its holdings in Innospec by 1,159.5% in the second quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock valued at $44,000 after acquiring an additional 487 shares in the last quarter. Versant Capital Management Inc boosted its stake in Innospec by 378.1% during the 3rd quarter. Versant Capital Management Inc now owns 545 shares of the specialty chemicals company’s stock valued at $42,000 after acquiring an additional 431 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in Innospec by 271.0% during the 4th quarter. Hantz Financial Services Inc. now owns 575 shares of the specialty chemicals company’s stock worth $44,000 after acquiring an additional 420 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in Innospec by 31.0% during the 3rd quarter. Allworth Financial LP now owns 588 shares of the specialty chemicals company’s stock worth $45,000 after acquiring an additional 139 shares in the last quarter. 96.64% of the stock is owned by institutional investors and hedge funds.

About Innospec

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.