Zacks Investment Research Upgrades IntriCon Corp. (IIN) to “Hold”
IntriCon Corp. (NASDAQ:IIN) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “IntriCon designs, develops, engineers and manufactures microminiaturized medical and electronic products. The Company supplies microminiaturized components, systems and molded plastic parts, primarily to the hearing instrument manufacturing industry, as well as the computer, government, electronics, telecommunications and medical equipment industries. The Company has facilities in the United States, Asia and Europe. “
Shares of IntriCon Corp. (NASDAQ:IIN) traded up 6.04% on Wednesday, hitting $6.14. 976 shares of the stock were exchanged. IntriCon Corp. has a one year low of $4.12 and a one year high of $8.65. The company has a 50-day moving average price of $5.01 and a 200-day moving average price of $5.35. The firm’s market capitalization is $41.72 million.
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IntriCon Corp. (NASDAQ:IIN) last released its earnings results on Tuesday, August 2nd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by $0.14. The business earned $17 million during the quarter, compared to the consensus estimate of $16.71 million. IntriCon Corp. had a negative net margin of 0.05% and a positive return on equity of 2.36%. Equities research analysts expect that IntriCon Corp. will post ($0.10) earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Heartland Advisors Inc. acquired a new position in IntriCon Corp. during the second quarter worth $2,136,000. Renaissance Technologies LLC increased its position in IntriCon Corp. by 0.9% in the first quarter. Renaissance Technologies LLC now owns 171,500 shares of the company’s stock worth $1,092,000 after buying an additional 1,500 shares during the period. AWM Investment Company Inc. acquired a new position in IntriCon Corp. during the second quarter worth $294,000. Coe Capital Management LLC acquired a new position in IntriCon Corp. during the second quarter worth $240,000. Finally, Bard Associates Inc. acquired a new position in IntriCon Corp. during the second quarter worth $211,000. 23.33% of the stock is owned by institutional investors and hedge funds.
About IntriCon Corp.
IntriCon Corporation is engaged in designing, developing, engineering, manufacturing and distributing body-worn devices. The Company operates through body-worn device segment. The Company serves the body-worn device market by designing, developing, engineering and manufacturing micro-miniature products, microelectronics, micro-mechanical assemblies, complete assemblies and software solutions, primarily for the value hearing health market, the medical bio-telemetry market and the professional audio communication market.
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