Inno Holdings Inc. (NASDAQ:INHD) Sees Large Growth in Short Interest

Inno Holdings Inc. (NASDAQ:INHD) saw a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 432,390 shares, a growth of 342.5% from the January 29th total of 97,721 shares. Currently, 5.1% of the shares of the company are short sold. Based on an average daily trading volume, of 985,469 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily trading volume, of 985,469 shares, the days-to-cover ratio is presently 0.4 days. Currently, 5.1% of the shares of the company are short sold.

Hedge Funds Weigh In On Inno

Institutional investors have recently bought and sold shares of the business. Jane Street Group LLC bought a new stake in Inno during the fourth quarter worth approximately $75,000. Two Sigma Investments LP purchased a new position in shares of Inno in the 3rd quarter worth approximately $58,000. T3 Companies LLC bought a new position in shares of Inno during the 4th quarter valued at approximately $41,000. Virtu Financial LLC purchased a new stake in Inno during the 4th quarter valued at $36,000. Finally, Geode Capital Management LLC lifted its position in Inno by 48.6% in the second quarter. Geode Capital Management LLC now owns 31,128 shares of the company’s stock worth $43,000 after buying an additional 10,177 shares during the last quarter. Institutional investors own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on INHD. Wall Street Zen cut shares of Inno from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Inno in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Inno Price Performance

Shares of INHD stock opened at $1.08 on Friday. Inno has a one year low of $0.97 and a one year high of $474.72. The company’s fifty day moving average price is $1.26 and its 200-day moving average price is $29.68. The company has a market capitalization of $9.09 million, a price-to-earnings ratio of -0.07 and a beta of -1.19.

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

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.