INNOVATE (NYSE:VATE) Trading 0.3% Higher – Here’s What Happened

Shares of INNOVATE Corp. (NYSE:VATE) shot up 0.3% during trading on Thursday . The stock traded as high as $8.45 and last traded at $8.23. 20,718 shares were traded during trading, a decline of 89% from the average session volume of 191,055 shares. The stock had previously closed at $8.20.

INNOVATE Price Performance

The business’s fifty day simple moving average is $9.89 and its two-hundred day simple moving average is $6.70. The company has a market cap of $109.07 million, a PE ratio of -2.30 and a beta of 2.82.

Institutional Trading of INNOVATE

Several institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in shares of INNOVATE by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 123,674 shares of the company’s stock valued at $611,000 after buying an additional 1,962 shares in the last quarter. Northern Trust Corp lifted its holdings in INNOVATE by 75.5% during the fourth quarter. Northern Trust Corp now owns 19,619 shares of the company’s stock valued at $97,000 after purchasing an additional 8,440 shares in the last quarter. Aristeia Capital L.L.C. acquired a new stake in shares of INNOVATE in the fourth quarter valued at about $67,000. MSH Capital Advisors LLC purchased a new stake in shares of INNOVATE during the fourth quarter worth about $73,000. Finally, ARS Investment Partners LLC raised its position in shares of INNOVATE by 38.1% during the 4th quarter. ARS Investment Partners LLC now owns 85,170 shares of the company’s stock worth $421,000 after purchasing an additional 23,500 shares during the last quarter. 34.28% of the stock is owned by institutional investors and hedge funds.

INNOVATE Company Profile

INNOVATE Corp., through its subsidiaries, operates in infrastructure, life sciences, and spectrum areas in the United States. The Infrastructure segment provides industrial construction, structural steel, and facility maintenance services, such as fabrication and erection of structural steel and heavy steel plate services, and large-diameter water pipes and water storage tanks; fabrication of trusses and girders; and 3-D building information modeling and detailing for commercial, industrial, and infrastructure construction projects, such as buildings and office complexes, hotels and casinos, convention centers, sports arenas and stadiums, shopping malls, hospitals, dams, bridges, mines, metal processing, refineries, pulp and paper mills, and power plants.