Inno (NASDAQ:INHD) Rating Lowered to “Sell” at Wall Street Zen

Inno (NASDAQ:INHD) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Inno in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Inno currently has a consensus rating of “Sell”.

Inno Trading Down 2.7%

NASDAQ:INHD opened at $1.08 on Friday. Inno has a 1-year low of $0.97 and a 1-year high of $474.72. The stock has a market capitalization of $9.09 million, a PE ratio of -0.07 and a beta of -1.19. The firm has a fifty day simple moving average of $1.26 and a 200 day simple moving average of $29.68.

Inno (NASDAQ:INHD) last posted its earnings results on Tuesday, February 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter. The company had revenue of $1.46 million for the quarter. Inno had a negative return on equity of 24.17% and a negative net margin of 158.32%.

Hedge Funds Weigh In On Inno

A number of hedge funds and other institutional investors have recently made changes to their positions in INHD. Virtu Financial LLC bought a new stake in Inno during the fourth quarter valued at $36,000. Jane Street Group LLC bought a new position in Inno in the fourth quarter worth approximately $75,000. T3 Companies LLC acquired a new stake in Inno in the fourth quarter valued at approximately $41,000. Two Sigma Investments LP acquired a new position in shares of Inno during the third quarter worth approximately $58,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Inno by 48.6% in the 2nd quarter. Geode Capital Management LLC now owns 31,128 shares of the company’s stock worth $43,000 after purchasing an additional 10,177 shares in the last quarter. 0.16% of the stock is owned by institutional investors and hedge funds.

About Inno

Inno Holdings Inc manufactures and sells cold-formed-steel members, castor cubes, mobile factories, and prefabricated homes in the United States. The company provides cold-formed steel framing and a mobile factory for off-site equipment rental, sales, service, and support. It serves in residential, commercial, industrial, and infrastructure projects. Inno Holdings Inc was founded in 2019 and is headquartered in Brookshire, Texas.