INO-UN.TO
Inovalis Real Estate Investment Trust
TorontoCADEQUITY
Real Estate
DELAYED
Last price
0.75
▼ 0.02 (2.60%)
MARKET · —
Price
Chart style
Interval
Intraday intervals only cover recent history. The site picks the finest interval the range allows.
Overlays
Session levels
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Both series are rebased to 0% at the left edge, so the lines show relative performance rather than price.
Tool
1D
—
H —
L —
Range —
Vol —
vs
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Open
0.76
Prev close
0.77
Day high
0.76
Day low
0.75
Volume
14.51K
Market cap
$25.46M
P/E (TTM)
—
52W range
0.66 – 1.25
Day trading desk
Gap from prior close
-1.30%
Prior close 0.77
VWAP
0.75
-0.09% from price
Relative volume
0.70×
Normal
Session range
1.33%
0.75 – 0.76
Position in range
0%
Near session low
ATR (14D)
0.03
3.33% of price
Prior day high
0.77
PDH
Prior day low
0.77
PDL
Bid / ask spread
—
Quote not published
Session volume
15.51K
Avg 22.01K
VWAP and the session figures are computed from the delayed intraday series on this page, so they lag the live tape and will not match a broker's real-time VWAP exactly. Turn on Prior day H/L/C, Opening range and Volume profile in the chart's Studies menu to see these levels drawn on price.
Trailing performance
Returnvs SPY
1W
-3.85%
-2.5%
1M
+13.64%
+9.9%
3M
-6.25%
-9.3%
6M
-28.57%
-39.6%
YTD
-29.25%
-41.5%
1Y
-9.64%
-29.6%
3Y
-82.12%
-156.3%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
5 more panels on INO-UN.TO open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
537.49K
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Apr 14, 26 | Cohen (Jean Daniel) Director of Issuer |
— | 61.69K | — | Direct |
| Mar 4, 26 | Pacaud (Laetitia Yvette) Director of Issuer |
— | 38.54K | — | Direct |
| Mar 2, 26 | Bonneveld, Michael Director of Issuer |
EXERCISE | 23.87K | $416.52M | Direct |
| Feb 18, 26 | Manasterski (Marc) Director of Issuer |
— | 61.31K | — | Direct |
| Feb 11, 26 | Bonneveld, Michael Director of Issuer |
— | 28.25K | — | Indirect |
| Feb 11, 26 | Waxman Robert Director of Issuer |
— | 38.54K | — | Direct |
| Dec 24, 25 | Amine (Stephane) Director of Issuer |
— | 37.90K | — | Direct |
| Dec 24, 25 | Inovalis (S.A.) 10% Security Holder of Issuer |
— | 37.90K | — | Direct |
| Dec 12, 25 | Giraud (David) Senior Officer of Issuer |
BUY | 12.50K | $7.26K | Indirect |
| Dec 11, 25 | Giraud (David) Senior Officer of Issuer |
BUY | 37.50K | $21.79K | Indirect |
| Dec 9, 25 | Giraud (David) Senior Officer of Issuer |
BUY | 20.00K | $11.56K | Indirect |
| Oct 29, 25 | Waxman Robert Director of Issuer |
— | 9.36K | — | Direct |
| Oct 16, 25 | Bonneveld, Michael Director of Issuer |
— | 29.08K | — | Indirect |
| Sep 29, 25 | Manasterski (Rodolphe) Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) |
BUY | 30.00K | $17.91K | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
Amine (Stephane) |
Director of Issuer | 0 | Change in nature of ownership |
Bonneveld, Michael |
Director of Issuer | 36.94K | Exercise of rights |
Cohen (Jean Daniel) |
Director of Issuer | 172.69K | Exercise of rights |
Giraud (David) |
Senior Officer of Issuer | — | Acquisition or disposition in the public market |
Inovalis (S.A.) |
10% Security Holder of Issuer | 2.79M | Change in nature of ownership |
Manasterski (Marc) |
Director of Issuer | 154.90K | Exercise of rights |
Manasterski (Rodolphe) |
Director or Senior Officer of Insider or Subsidiary of Issuer (other than in 4,5,6) | 54.50K | Acquisition or disposition in the public market |
Pacaud (Laetitia Yvette) |
Director of Issuer | 56.32K | Exercise of rights |
Waxman Robert |
Director of Issuer | 55.77K | Exercise of rights |
Fundamentals
Market cap$25.46M
Enterprise value$181.10M
Revenue (TTM)$8.26M
Gross profit$-1.41M
EBITDA—
Net income$-45.15M
EPS (TTM)$-1.36
Free cash flow$19.14M
Total cash$15.93M
Total debt$172.33M
Book value / share$4.24
Shares outstanding33.55M
Float31.33M
Short % of float—
Dividend yield6.11%
Beta (5Y)1.06
Valuation & profitability ratios
Trailing P/E—
Forward P/E—
PEG ratio—
Price / sales—
Price / book0.18
EV / revenue21.91
EV / EBITDA—
Gross margin-17.11%
Operating margin160.05%
Profit margin0.00%
Return on equity-27.68%
Return on assets-1.16%
Debt / equity122.15
Current ratio0.27
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $22.44M | $24.11M | $33.57M | $31.14M | -6.9% |
| Operating revenue | $17.30M | $18.64M | $24.66M | $25.38M | -7.2% |
| Cost of revenue | $12.24M | $10.65M | $10.65M | $9.70M | +14.9% |
| Gross profit | $10.21M | $13.46M | $22.92M | $21.44M | -24.2% |
| Selling, general & admin | $4.85M | $5.40M | $5.77M | $6.81M | -10.2% |
| Total operating expense | $4.85M | $5.40M | $5.77M | $6.81M | -10.2% |
| Operating income | $5.36M | $8.06M | $17.15M | $14.63M | -33.5% |
| Net interest income | -$5.55M | -$7.77M | -$5.04M | $1.03M | +28.6% |
| Pre-tax income | -$50.03M | -$71.24M | -$30.28M | -$39.76M | +29.8% |
| Tax provision | $7.17M | -$1.21M | -$328.00K | -$2.78M | +693.7% |
| Net income | -$55.97M | -$69.13M | -$29.69M | -$36.85M | +19.0% |
| Net income to common | -$55.97M | -$69.13M | -$29.69M | -$36.85M | +19.0% |
| Basic EPS | -1.68 | -2.08 | -0.91 | -1.12 | +19.3% |
| Diluted EPS | -1.68 | -2.08 | -0.91 | -1.12 | +19.3% |
| EBIT | -$42.17M | -$61.80M | -$21.80M | -$34.96M | +31.8% |
| EBITDA | -$42.17M | -$61.80M | -$21.80M | -$34.96M | +31.8% |
| Basic shares | 33.30M | 33.21M | 32.59M | 32.78M | +0.3% |
| Diluted shares | 33.30M | 33.21M | 32.59M | 32.78M | +0.3% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Cash & equivalents | $25.06M | $6.25M | $12.49M | $45.18M | +301.0% |
| Cash & short-term investments | $25.06M | $6.25M | $12.49M | $45.18M | +301.0% |
| Accounts receivable | $1.59M | $2.69M | $2.59M | $2.39M | -41.0% |
| Total current assets | $51.15M | $45.36M | $24.16M | $62.42M | +12.8% |
| Total assets | $363.38M | $412.22M | $484.06M | $561.11M | -11.8% |
| Total current liabilities | $74.67M | $77.98M | $70.99M | $70.10M | -4.2% |
| Current debt | $42.65M | $60.57M | $50.55M | $38.05M | -29.6% |
| Long-term debt | $58.20M | $54.15M | $65.90M | $96.50M | +7.5% |
| Total debt | $204.53M | $215.51M | $219.45M | $243.09M | -5.1% |
| Total liabilities | $225.73M | $230.11M | $236.69M | $272.93M | -1.9% |
| Retained earnings | -$191.91M | -$129.83M | -$53.23M | -$12.33M | -47.8% |
| Shareholder equity | $138.81M | $182.04M | $246.42M | $286.98M | -23.7% |
| Working capital | -$23.53M | -$32.62M | -$46.84M | -$7.68M | +27.9% |
| Net tangible assets | $138.81M | $182.04M | $246.42M | $286.98M | -23.7% |
| Shares issued | 33.30M | 33.21M | 32.59M | 32.78M | +0.3% |
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Net income | -$50.03M | -$71.24M | -$30.28M | -$39.76M | — | +29.8% |
| Change in working capital | -$1.06M | $2.26M | -$8.64M | $8.17M | — | -147.1% |
| Operating cash flow | -$4.83M | $913.00K | $3.97M | $21.43M | — | -628.8% |
| Investing cash flow | $50.96M | $701.00K | $2.15M | -$60.47M | — | +7,169.8% |
| Dividends paid | — | $0 | -$13.50M | -$22.37M | -$36.69M | — |
| Financing cash flow | -$28.12M | -$7.92M | -$39.08M | $9.70M | — | -255.1% |
| Free cash flow | -$4.83M | $913.00K | $3.97M | $21.43M | — | -628.8% |
| End cash position | $25.06M | $6.25M | $12.49M | $45.18M | — | +301.0% |
| Line item | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|
| Total revenue | $3.68M | $5.54M | $5.70M | $5.58M | $5.62M | -33.7% |
| Operating revenue | $2.89M | $4.27M | $4.38M | $4.48M | $4.33M | -32.2% |
| Cost of revenue | $4.61M | $2.27M | $2.05M | $2.39M | $5.53M | +103.4% |
| Gross profit | -$932.00K | $3.27M | $3.65M | $3.19M | $91.00K | -128.5% |
| Selling, general & admin | $1.22M | $1.45M | $952.00K | $1.24M | $1.20M | -15.4% |
| Total operating expense | $1.22M | $1.45M | $952.00K | $1.24M | $1.20M | -15.4% |
| Operating income | -$2.15M | $1.83M | $2.70M | $1.95M | -$1.11M | -217.8% |
| Net interest income | $16.17M | -$1.11M | -$1.57M | -$1.37M | -$1.50M | +1,561.1% |
| Pre-tax income | $13.60M | -$40.85M | $255.00K | -$11.41M | $1.97M | +133.3% |
| Tax provision | $17.00K | $7.00M | $65.00K | $59.00K | $42.00K | -99.8% |
| Net income | $12.77M | -$46.83M | $189.00K | -$11.25M | $1.92M | +127.3% |
| Net income to common | $12.77M | -$46.83M | $189.00K | -$11.25M | $1.92M | +127.3% |
| Basic EPS | 0.38 | — | 0.01 | -0.34 | 0.06 | — |
| Diluted EPS | 0.38 | — | 0.01 | -0.34 | 0.06 | — |
| EBIT | $15.13M | -$39.01M | $2.36M | -$9.43M | $3.90M | +138.8% |
| EBITDA | $15.13M | -$39.01M | $2.36M | -$9.43M | $3.90M | +138.8% |
| Basic shares | 33.49M | — | 33.26M | 33.21M | 33.21M | — |
| Diluted shares | 33.49M | — | 33.26M | 33.21M | 33.21M | — |
| Line item | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $20.10M | $25.06M | $11.92M | $12.61M | $5.33M | -19.8% |
| Cash & short-term investments | $20.10M | $25.06M | $11.92M | $12.61M | $5.33M | -19.8% |
| Accounts receivable | $1.31M | $1.59M | $2.10M | $2.98M | $3.03M | -17.5% |
| Total current assets | $32.07M | $51.15M | $87.34M | $49.95M | $46.64M | -37.3% |
| Total assets | $343.12M | $363.38M | $421.26M | $415.53M | $434.98M | -5.6% |
| Total current liabilities | $102.92M | $74.67M | $65.09M | $63.14M | $87.02M | +37.8% |
| Current debt | $67.49M | $42.65M | $42.96M | $41.89M | $62.91M | +58.2% |
| Long-term debt | $204.00K | $58.20M | $68.23M | $66.72M | $55.92M | -99.6% |
| Total debt | $170.09M | $204.53M | $217.25M | $213.75M | $223.04M | -16.8% |
| Total liabilities | $192.06M | $225.73M | $230.82M | $228.88M | $242.12M | -14.9% |
| Retained earnings | -$179.14M | -$191.91M | -$138.97M | -$139.16M | -$127.91M | +6.7% |
| Shareholder equity | $151.40M | $138.81M | $190.56M | $186.77M | $192.78M | +9.1% |
| Working capital | -$70.85M | -$23.53M | $22.25M | -$13.19M | -$40.38M | -201.1% |
| Net tangible assets | $151.40M | $138.81M | $190.56M | $186.77M | $192.78M | +9.1% |
| Shares issued | 33.49M | 33.30M | 33.26M | 33.21M | 33.21M | +0.6% |
| Line item | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | YoY |
|---|---|---|---|---|---|---|---|
| Net income | $13.60M | -$40.85M | $255.00K | -$11.41M | $1.97M | — | +133.3% |
| Change in working capital | $237.00K | -$1.21M | $3.39M | -$7.03M | $3.78M | — | +119.6% |
| Operating cash flow | -$3.80M | -$2.50M | $4.01M | -$7.27M | $928.00K | — | -52.2% |
| Investing cash flow | $15.41M | $25.14M | -$3.25M | $29.07M | $3.00K | — | -38.7% |
| Dividends paid | — | — | — | — | — | $0 | — |
| Financing cash flow | -$16.80M | -$9.24M | -$1.53M | -$15.25M | -$2.09M | — | -81.7% |
| Free cash flow | -$3.80M | -$2.50M | $4.01M | -$7.27M | $928.00K | — | -52.2% |
| End cash position | $20.10M | $25.06M | $11.92M | $12.61M | $5.33M | — | -19.8% |
Options analytics
Put / call volume
—
—
Put / call open interest
—
Positioning, not flow
Max pain
—
—
ATM implied vol
—
Nearest strike to spot
Skew (10% OTM)
—
—
Call volume
0
Contracts, this expiry
Put volume
0
Contracts, this expiry
Heaviest call OI
—
—
Heaviest put OI
—
—
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | — | — | $0 | — |
| Next quarter | — | — | $0 | — |
| Current year | — | — | $0 | — |
| Next year | — | — | $0 | — |
Analyst targets & ownership
Mean target$0.85
High target$0.85
Low target$0.85
Implied upside13.33%
Analyst count1
ConsensusHOLD
Strong buy / Buy0 / 0
Hold1
Sell / Strong sell0 / 0
Held by insiders1.61%
Held by institutions16.25%
Institutions holding2
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
0.78
-3.97% from price
SMA 20
0.77
-2.98% from price
SMA 50
0.77
-2.04% from price
SMA 100
0.79
-5.18% from price
SMA 200
0.87
-13.70% from price
EMA 12
0.77
-3.03% from price
EMA 26
0.77
-2.59% from price
EMA 50
0.77
-3.20% from price
RSI (14)
46.0
Neutral
MACD (12,26,9)
0.00
Hist -0.00
ATR (14)
0.03
3.33% of price
Realised vol 30D
65.3%
Annualised
Bollinger upper
0.82
20, 2σ
Bollinger lower
0.72
20, 2σ
50 / 200 cross
Death
0.77 vs 0.87
Trend bias
Below 200
-13.70%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
0.58
Less volatile than market
Correlation to SPY
0.15
Largely independent
Realised vol 30D
65.3%
Annualised
Market vol 1Y
12.9%
SPY, annualised
Max drawdown 1Y
-45.0%
Peak to trough
Max drawdown 5Y
-94.8%
Peak to trough
ATR 14
0.03
3.33% of price
Beta (reported)
1.06
5Y monthly, from filing
Short interest
Shares short
188.75K
Prior 190.37K
Change vs prior
-0.8%
Shorts covering
% of float
—
—
% of shares out
0.58%
Against total outstanding
Days to cover
7.2
Crowded exit
Float
31.33M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Nov 7, 22 | Canaccord Genuity | DOWNGRADE | Buy | Hold |
Dividends & splits
Forward rate$0.05 / yr
Forward yield6.11%
5-year avg yield13.73%
Payout ratio0.00%
Ex-dividend dateDec 31, 2025
Next pay dateJan 15, 2026
Last split806:1000
Split dateDec 31, 2024
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The research you are reading is the input layer for a discretionary options program we run for a small number of qualified investors. Minimum $1,000,000.