INNOVATE (NYSE:VATE) Stock Price Up 0.3% – What’s Next?

INNOVATE Corp. (NYSE:VATE)’s stock price was up 0.3% during mid-day trading on Thursday . The company traded as high as $8.45 and last traded at $8.23. Approximately 20,718 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 191,055 shares. The stock had previously closed at $8.20.

INNOVATE Stock Performance

The firm has a market capitalization of $107.94 million, a P/E ratio of -2.27 and a beta of 2.82. The stock has a fifty day moving average price of $9.95 and a two-hundred day moving average price of $6.73.

Institutional Investors Weigh In On INNOVATE

Large investors have recently bought and sold shares of the business. ARS Investment Partners LLC raised its stake in shares of INNOVATE by 38.1% in the fourth quarter. ARS Investment Partners LLC now owns 85,170 shares of the company’s stock valued at $421,000 after acquiring an additional 23,500 shares during the last quarter. Northern Trust Corp boosted its position in shares of INNOVATE by 75.5% during the fourth quarter. Northern Trust Corp now owns 19,619 shares of the company’s stock worth $97,000 after buying an additional 8,440 shares during the period. Bridgeway Capital Management LLC increased its stake in INNOVATE by 119.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 45,000 shares of the company’s stock valued at $222,000 after buying an additional 24,500 shares during the last quarter. Cantor Fitzgerald L. P. bought a new position in shares of INNOVATE in the fourth quarter valued at $246,000. Finally, Aristeia Capital L.L.C. bought a new stake in INNOVATE in the 4th quarter valued at $67,000. 34.28% of the stock is currently owned by institutional investors.

About INNOVATE

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.