INNOVATE (NYSE:VATE) Stock Price Down 3.9% - What's Next?

Shares of INNOVATE Corp. (NYSE:VATE - Get Free Report) dropped 3.9% during trading on Thursday . The company traded as low as $4.38 and last traded at $4.48. Approximately 65,540 shares traded hands during mid-day trading, an increase of 469% from the average daily volume of 11,517 shares. The stock had previously closed at $4.66.Analyst Ratings ChangesSeparately, Weiss Ratings reissued a "sell (e+)" rating on shares of INNOVATE in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Sell".Check Out Our Latest Stock Report on VATEINNOVATE Trading Down 3.9%The company has a fifty day moving average price of $5.05 and a two-hundred day moving average price of $5.23. The firm has a market cap of $61.15 million, a P/E ratio of -0.81 and a beta of 1.57. INNOVATE (NYSE:VATE - Get Free Report) last announced its earnings results on Wednesday, November 12th. The company reported ($0.71) EPS for the quarter. The business had revenue of $347.10 million for the quarter. Hedge Funds Weigh In On INNOVATEA number of institutional investors and hedge funds have recently added to or reduced their stakes in VATE. Squarepoint Ops LLC acquired a new stake in shares of INNOVATE in the 3rd quarter valued at about $58,000. Bank of America Corp DE grew its holdings in shares of INNOVATE by 13.4% during the third quarter. Bank of America Corp DE now owns 18,962 shares of the company's stock worth $93,000 after buying an additional 2,236 shares in the last quarter. MSH Capital Advisors LLC raised its position in INNOVATE by 14.1% in the 1st quarter. MSH Capital Advisors LLC now owns 16,943 shares of the company's stock valued at $133,000 after buying an additional 2,088 shares during the last quarter. Citadel Advisors LLC lifted its stake in INNOVATE by 60.2% in the 3rd quarter. Citadel Advisors LLC now owns 37,694 shares of the company's stock valued at $184,000 after acquiring an additional 14,163 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in INNOVATE in the 1st quarter valued at approximately $253,000. 34.28% of the stock is owned by institutional investors and hedge funds. About INNOVATE (Get Free Report)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.Recommended StoriesFive stocks we like better than INNOVATEHow to find penny stocks to invest and trade 3 Recently Downgraded Stocks to Avoid in 2026What Are Dividend Contenders? Investing in Dividend ContendersThe Chip Boom Is Back: 3 Stocks Positioned for Huge GainsFollowing Congress Stock TradesOracle Stock Hit Hard: Why Its AI Pipeline Could Drive a 2026 RallyThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in INNOVATE Right Now?Before you consider INNOVATE, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and INNOVATE wasn't on the list.While INNOVATE currently has a Sell rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here