INNOVATE (NYSE:VATE) Shares Down 5.2%

INNOVATE Corp. (NYSE:VATE – Get Rating) shares dropped 5.2% during mid-day trading on Thursday . The stock traded as low as $1.25 and last traded at $1.28. Approximately 357,324 shares traded hands during trading, a decline of 17% from the average daily volume of 428,468 shares. The stock had previously closed at $1.35.

INNOVATE Stock Down 5.2 %

The firm has a market cap of $101.18 million, a P/E ratio of -2.61 and a beta of 2.23. The firm has a fifty day moving average of $2.64 and a 200-day moving average of $2.34.

INNOVATE (NYSE:VATE – Get Rating) last released its earnings results on Tuesday, March 14th. The company reported ($0.09) earnings per share (EPS) for the quarter. The company had revenue of $409.30 million during the quarter.

Institutional Trading of INNOVATE

Institutional investors and hedge funds have recently bought and sold shares of the business. Jane Street Group LLC bought a new position in shares of INNOVATE during the first quarter worth approximately $38,000. Two Sigma Investments LP bought a new position in shares of INNOVATE during the first quarter worth approximately $31,000. ExodusPoint Capital Management LP bought a new position in shares of INNOVATE during the first quarter worth approximately $35,000. Cubist Systematic Strategies LLC bought a new position in shares of INNOVATE during the first quarter worth approximately $35,000. Finally, XTX Topco Ltd acquired a new stake in INNOVATE during the first quarter worth approximately $45,000. Institutional investors own 32.87% of the company’s stock.

About INNOVATE

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INNOVATE Corp. engages in the acquisition and investment of assets. It operates through the following segments: Infrastructure, Clean Energy, Telecommunications, Insurance, Life Sciences, Spectrum, and Other. The Infrastructure segment models, details, fabricates, and erects structural steel for commercial and industrial construction projects.