Key Points
- Michael Otworth purchased 12,000 shares of Innventure on Dec. 2 at an average price of $5.06 for $60,720, increasing his holdings to 3,492,607 shares (a 0.34% rise) valued at about $17.67M.
- Innventure posted a sizeable quarterly miss (EPS of -$0.51 vs. -$0.24 expected and reported revenue of -$5.0M vs. $1.98M est.), with very negative profitability metrics, while the stock trades near $4.97 and the company has a market cap of roughly $310M.
- Institutional investors own about 55.98% of the stock and analyst views are mixed, but the MarketBeat consensus target is $14.00 despite a recent "sell (e+)" reiteration from Weiss Ratings.
Innventure, Inc. (NASDAQ:INV - Get Free Report) insider Roland Austrup acquired 4,900 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was acquired at an average price of $5.01 per share, with a total value of $24,549.00. Following the completion of the transaction, the insider directly owned 868,164 shares of the company's stock, valued at $4,349,501.64. This trade represents a 0.57% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.
Innventure Stock Performance
Shares of Innventure stock remained flat at $4.98 during trading hours on Thursday. The stock had a trading volume of 73,549 shares, compared to its average volume of 341,789. Innventure, Inc. has a twelve month low of $2.36 and a twelve month high of $14.95. The company's fifty day simple moving average is $4.07 and its two-hundred day simple moving average is $4.80. The company has a market cap of $311.11 million, a PE ratio of -3.30 and a beta of 0.07. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.31 and a current ratio of 0.39.
Innventure (NASDAQ:INV - Get Free Report) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.27). Innventure had a negative net margin of 18,877.40% and a negative return on equity of 29.39%. The company had revenue of ($5.00) million during the quarter, compared to analysts' expectations of $1.98 million.
Analyst Ratings Changes
Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of Innventure in a research note on Monday, November 17th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $14.00.
Check Out Our Latest Report on INV
Hedge Funds Weigh In On Innventure
A number of institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its stake in Innventure by 937.6% in the second quarter. PNC Financial Services Group Inc. now owns 3,074,330 shares of the company's stock valued at $14,757,000 after buying an additional 2,778,036 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Innventure by 3.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,528,649 shares of the company's stock valued at $8,851,000 after acquiring an additional 56,764 shares during the last quarter. Abundance Wealth Counselors purchased a new position in shares of Innventure in the 2nd quarter valued at about $3,621,000. Belpointe Asset Management LLC raised its position in shares of Innventure by 276.1% during the 3rd quarter. Belpointe Asset Management LLC now owns 380,918 shares of the company's stock worth $2,206,000 after acquiring an additional 279,648 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Innventure by 60.1% during the second quarter. Geode Capital Management LLC now owns 312,201 shares of the company's stock worth $1,499,000 after purchasing an additional 117,162 shares during the last quarter. Institutional investors and hedge funds own 55.98% of the company's stock.
About Innventure
(
Get Free Report)
Innventure Inc founds, funds and operates companies with a focus on transformative, sustainable technology solutions acquired or licensed from multinational corporations. Innventure Inc, formerly known as Learn CW Investment Corporation, is based in ORLANDO, Fla.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
