Innio (NASDAQ:INIO) Trading Down 7.4% – Should You Sell?

Innio N.V. (NASDAQ:INIO) shares dropped 7.4% during trading on Friday . The stock traded as low as $26.15 and last traded at $25.92. 308,822 shares were traded during trading, a decline of 94% from the average daily volume of 4,841,826 shares. The stock had previously closed at $27.99.

Wall Street Analysts Forecast Growth

INIO has been the topic of a number of recent research reports. JPMorgan Chase & Co. assumed coverage on Innio in a research note on Monday, June 29th. They set an “overweight” rating and a $44.00 price objective on the stock. Citigroup began coverage on shares of Innio in a research report on Monday, June 29th. They set a “neutral” rating and a $42.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Innio in a report on Monday, June 29th. They issued a “hold” rating and a $41.00 target price on the stock. Robert W. Baird started coverage on Innio in a research report on Monday, June 29th. They set an “outperform” rating and a $50.00 price objective for the company. Finally, Royal Bank Of Canada assumed coverage on Innio in a research note on Monday, June 29th. They issued a “sector perform” rating and a $39.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $44.60.

Innio Price Performance

Innio Company Profile

INNIO is a provider of energy solutions, offering reciprocating gas engines, power generation systems, and related services for distributed power generation and gas compression applications. Its portfolio is designed to support customers in industries such as utilities, data centers, agriculture, wastewater, and oil and gas, where reliable on-site power and efficiency are important.

The company is best known for its Jenbacher and Waukesha brands, which are used in engines and power systems that can run on natural gas, biogas, and other gaseous fuels.