INNOVATE CORP (VATE)
Industrials · Diversified industrial holding company with construction, life sciences support, and broadcasting segments · NYSE
A diversified holding company actively restructuring its portfolio through the divestiture of its infrastructure and spectrum businesses to focus on long-term value creation.
What INNOVATE CORP does
INNOVATE Corp is a diversified industrial holding company operating through three main segments: Infrastructure (structural and steel construction services via DBM Global Inc.), Life Sciences (healthcare and biotechnology product development support via Pansend Life Sciences), and Spectrum (over-the-air broadcasting stations via HC2 Broadcasting Holdings). The company seeks to generate sustainable free cash flow and attractive returns across its portfolio, though it is currently operating under debt milestone covenants requiring active sales processes for its Infrastructure and Spectrum segments.
Themes: Construction and infrastructure services, Life sciences / biotech support services, Broadcasting and media, Diversified holding company / portfolio investments
Fundamentals
- Price$7.86 as of 2026-08-21 close
- Market cap$107M as of 2026-08-21
- 1-year return+64.8% 2025-08-21 close $4.77 → 2026-08-21 close $7.86
- P/En/a negative earnings
- Net margin-4.0% as of 2026-08-24
- Gross margin+15.5% as of 2026-08-24
- ROE-7.1% as of 2026-08-24
- Debt / equity1.39 as of 2026-08-24
- Revenue growth (YoY)+25.4% as of 2026-08-24
- Revenue CAGR (3y)-8.7% SEC XBRL
- Beta2.44 as of 2026-08-24
- Last reported earnings2026-08-06 SEC EDGAR Form 8-K (Item 2.02)
Dividend: yield +3.6%; pays a dividend.
How VATE compares in its sector
- net profit marginbottom 25% 457 covered Industrials peers, as of 2026-08-24
- operating marginmiddle range 457 covered Industrials peers, as of 2026-08-24
- gross marginbottom 25% 455 covered Industrials peers, as of 2026-08-24
- return on equitybottom 25% 460 covered Industrials peers, as of 2026-08-24
- 3-year revenue CAGRbottom 10% 426 covered Industrials peers
- indicated dividend yieldtop 10% 267 covered Industrials peers, as of 2026-08-24
- free cash flow (absolute dollars, latest fiscal year)middle range 414 covered Industrials peers, as of FY2025
Position among covered Industrials companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
Dividend coverage (FY2025)
Covered by reported results. In FY2025, VATE's dividend was covered by reported results (free-cash-flow payout 2%). This describes past coverage, not a forecast.
- Earnings payoutnot assessable earnings were not positive that year
- Free-cash-flow payout2% dividends / (operating cash flow − capex)
Coverage derived from reported SEC EDGAR XBRL figures for FY2025 (dividends paid vs. net income and free cash flow, same fiscal year). This describes PAST coverage for one fiscal year — it does not predict whether a dividend will be maintained, raised, or cut, and a one-year payout ratio can be distorted by non-recurring items. Informational only — not financial advice.
How INNOVATE CORP looks technically
INNOVATE CORP (VATE) is trading 7.0% below its 200-day average, the long-term trend line — a long-term downtrend. Its 50-day average crossed above its 200-day average about 96 trading days ago — a "golden cross", a bullish long-term signal. A trend is forming but not yet strong — ADX, a 0–100 trend-strength gauge, is 22 (a reading of 25+ marks a strong trend). Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 44, neither overbought (above 70) nor oversold (below 30). It made a new 20-day low about 10 trading days ago. It is 63.1% below its highest point of the past year. Trading volume is unusually light — only about 17% of its 30-day average.
Trend
7
| Distance from the 200-day | it is trading 7.0% below its 200-day average, the long-term trend line — a long-term downtrend | -7.0% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $11.68 | $11.68 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $8.45 | $8.45 |
| Swing structure | each recent peak has been lower than the one before it and each dip deeper — the pattern chart-watchers call a downtrend, which describes where price has already been and not where it goes next | lower highs and lower lows |
| Last swing turn | its last significant turn was a swing low 11 calendar days ago — the swings before that are what the structure reading is measured on | 11 sessions |
| Since the 50/200 cross | its 50-day average crossed above its 200-day average about 96 trading days ago — a "golden cross", a bullish long-term signal | 96 sessions |
| Trend strength (14-day ADX) | a trend is forming but not yet strong — ADX, a 0–100 trend-strength gauge, is 22 (a reading of 25+ marks a strong trend) | 22.4 |
Momentum
3
| 14-day RSI | momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 44, neither overbought (above 70) nor oversold (below 30) | 44.2 |
|---|---|---|
| Position in its 14-day range | it is trading near the bottom of its 14-day range ($6.41 to $14.00) — its "stochastic" reading is 19 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been slipping within that range over the last few sessions. | 19.1 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, is in positive territory (momentum leaning bullish) | 15 sessions |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $21.30 | $21.30 |
|---|---|---|
| From the 52-week high | it is 63.1% below its 52-week high (its highest price of the past year) | -63.1% |
| Above the 52-week low | it is 109.6% above its 52-week low (its lowest price of the past year) | +109.6% |
| Below the 52-week high | it is 63.1% below its highest point of the past year | 63.1% |
| Since a 20-day breakout | it made a new 20-day low about 10 trading days ago | 10 sessions |
| Since a 55-day breakout | it made a new 55-day low about 10 trading days ago | 10 sessions |
| All-time high | its highest closing price on record is $178.90 (set on 2012-04-16) | $178.90 |
| Given back of the 52-week move | over the past year its closes ranged ($3.98 to $20.06), and it has given back well over two thirds of its rise from last year’s low — 76% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $9.61 to $10.12. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 75.9% |
| From the all-time high | it is 95.6% below its all-time high | -95.6% |
| Nearest price level | it is trading 17.7% above a support level at $6.47 — a price it turned at five times since 2024-10-22, most recently on 2026-08-10. Since 2024-08-21 it has 11 such levels below the current price and 1 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | -17.7% |
| All-time low | its lowest closing price on record is $3.25 (set on 2024-10-02) | $3.25 |
| Above the all-time low | it is 141.8% above its all-time low | +141.8% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are about average versus its own recent 6-month history | 51st percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $1.18 between its high and its low — about 15.1% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $1.18 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $5.95 and $9.96 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $5.95 – $7.96 – $9.96 |
| Typical daily range (% of price) | its price moves about 15.1% in a typical session — among the most volatile in the catalog. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 15.1% |
| Stretch from the 200-day average | it is trading 0.5 daily ranges below its 200-day average price (7.0% below it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 0.5 daily ranges below its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is unusually light — only about 17% of its 30-day average | 0.17× |
|---|
Candlestick patterns
1
| Since a doji | 6 sessions ago it opened and closed at almost the same price after trading through a wider range — a "doji", the classic picture of buyers and sellers finishing the session level | 6 sessions ago |
|---|
Price gaps
3
| Gap at the open | it opened on 2026-08-21 0.9% above the previous session's close — an overnight gap, the part of the move that happened while the market was shut, and traded back through that level before the close | +0.9% |
|---|---|---|
| Open gap | it gapped 24.4% below the previous close 9 sessions ago and has not traded back through the level it left behind at 12.11 — an "unfilled gap", which describes a price range no trade has since crossed and is not a forecast that it will be crossed | -24.4% |
| Gap filled | a 2.8% gap up opened on 2026-08-14 has been "filled" 5 sessions ago — price traded back through the level the gap left behind, and it closed again during the very session that opened it | 5 sessions ago |
Price streaks
1
| Closing streak | it closed lower in its latest session, after a session that did not close lower — a single down day rather than a run | 1 session down |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock lagged the market by 10.3 percentage points (the stock lost 8.0% while the market gained 2.3%) | -10.3% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock lagged the market by 43.2 percentage points (the stock lost 40.1% while the market gained 3.1%) | -43.2% |
| vs market, 6 months | over the past 6 months this stock beat the market by 44.0 percentage points (the stock gained 55.0% while the market gained 11.1%) | +44.0% |
| vs market, 12 months | over the past 12 months this stock beat the market by 44.3 percentage points (the stock gained 64.8% while the market gained 20.5%) | +44.3% |
Signal agreement
2
| Bullish technical signals | 4 of the 9 technical signals we can compute for it are currently in a bullish state: a "golden cross" — its 50-day average is above its 200-day, MACD momentum is positive, outperforming the market over 6 months, near the bottom of its 14-day range (oversold) — these describe past price behaviour, not a forecast | 4 of 9 |
|---|---|---|
| Bearish technical signals | 2 of the 9 technical signals we can compute for it are currently in a bearish state: trading below its 200-day average, trading below the Ichimoku cloud — these describe past price behaviour, not a forecast | 2 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading 45% below the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-07-15 and projected forward over today's price, the side traders read as an established downtrend, with the band above acting as the level that would have to be cleared. The band itself is thick, spanning 14.2% of the share price, which is taken to mean a barrier that has held for a while and takes effort to cross. | -44.6% |
|---|
Volume-weighted price
1
| Vs this year’s average price paid | the price is 30% below the average price paid so far this year, so the typical buyer over that stretch is under water. That average is $11.26 — a volume-weighted average of daily closes over 159 sessions, not a true tick-by-tick VWAP. | -30.2% |
|---|
Price levels it has turned at before
VATE last closed at $7.86 on 2026-08-21. Since 2024-08-21 it has turned at 11 prices below its last close and 1 above; the 3 nearest below and the nearest above are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $6.47 | Support | 17.7% below the last close | turned there five times · 2024-10-22 to 2026-08-10 |
| $5.96 | Support | 24.2% below the last close | turned there twice · 2025-11-05 to 2026-02-04 |
| $5.76 | Support | 26.7% below the last close | turned there five times · 2025-01-06 to 2026-01-21 |
| $13.40 | Resistance | 70.5% above the last close | turned there twice · 2026-04-24 to 2026-05-05 |
A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.
Wave structure
No Elliott-wave labelling currently fits its swings: the recent highs and lows do not satisfy the three rules a five-wave count has to obey, so there is no count to show rather than a count we are unsure about.
Read from daily closes as of 2026-08-21.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Trading below the 200-day moving average · Pulled back from the 12-month high · beating the market · Most volatile (6%+ typical daily range) · At the bottom of its 14-day range (stochastic below 20) · Trading below the Ichimoku cloud | Learn: moving average · golden cross · adx · rsi · breakout · fifty two week high low · volume and relative volume
Based on daily closing prices as of 2026-08-21. Describes past price behavior only — informational, not financial advice.
Key risks (from latest filing)
["Mandatory asset sales: Company is under debt covenants requiring sales of Infrastructure and Spectrum segments, creating execution risk and potential distressed valuation pressure","High debt burden with significant near-term maturities: Current portion of debt obligations of $610.8M against total assets of $936.8M, indicating refinancing and liquidity risk","Persistent unprofitability: Company reported net loss of $16.8M in Q1 2026 and negative net margin of -3.96%, limiting ability to self-fund operations or debt service"]
What changed in the latest 10-Q
AI-assisted comparison of VATE's 10-Q filed 2026-05-14 against the prior one filed 2025-11-12.
Management's Discussion & Analysis (MD&A)
- Added:
- Added reference to 2025 Annual Report (Form 10-K filed March 26, 2026) in newer filing (filed 2026-05-14), replacing 2024 Annual Report reference
- Added 'as of March 31, 2026' qualifier to segment description in newer filing
- Added new 'Corporate Debt - Infrastructure Milestones' subsection describing 10.50% 2027 Senior Secured Notes Indenture milestones and DBMG sales process with specific dates (September 1, 2025 missed deadline, April 1, 2026 extended to June 1, 2026)
- Added disclosure that DBMG Credit Agreement contains Change in Control clause constituting Event of Default upon sale of DBMG
- Added new 'Life Sciences' subsection under Debt Obligations describing $0.3 million additional funding of intercompany convertible 13.0% notes with R2 Technologies during Q1 2026, bringing total to $7.8 million, with July 31, 2026 maturity date
- Added new 'Spectrum' subsection describing Spectrum Notes Extension and Spectrum Letter milestone requirements, November 1, 2025 missed deadline, and HC2B strategic process initiation with lender discussions ongoing
- Added new 'Equity Method Investments' section header and partial MediBeacon disclosure regarding EU CE mark certification under MDR received March 31, 2026
- Added phrase 'During 2026, as part of our strategic process, we have engaged in and are contemplating several transactions' versus older 'In 2025, as part of our strategic process, we engaged in several transactions'
- Removed:
- Removed detailed Infrastructure subsection describing May 20, 2025 DBMG Amended and Restated Credit Agreement ($220.0 million total, $135.0 million revolving, $85.0 million term loan, May 20, 2030 maturity) with specific outstanding balances and interest rates as of September 30, 2025
- Removed detailed Life Sciences subsection describing August 4, 2025 Lancer Capital/R2 Technologies Amended and Restated Senior Secured Promissory Note with $43.5 million initial principal and $46.5 million balance as of September 30, 2025
- Removed description of February 20, 2025 Pansend $3.5 million convertible 13.0% note with R2 Technologies
- Removed general financing overview paragraph: 'During 2025, we have refinanced our debt, including at the subsidiary level...'
- Reworded:
- Changed 'customer spending patterns' to 'customer spending patterns' with added word 'customer' reordering: older text 'the spending patterns, including seasonal trends, and financial condition of our customers' to newer 'customer spending patterns, including seasonal trends, and the financial condition of our customers'
- Changed reference from '2024 Annual Report' filed March 31, 2025 to '2025 Annual Report' filed March 26, 2026
- Changed 'we' reference from 'we and our' to 'we, us and our' in introductory definitions section
- Notes:
- Newer filing text appears truncated at MediBeacon section ('TGFR TM Monito'); full comparison of that section not possible
- Older filing text shows content from page 42 onward; structural reorganization of debt discussion between filings makes direct section mapping difficult
- The removals of detailed debt information (DBMG Credit Agreement, R2 Technologies notes) represent significant restructuring rather than simple deletion; these topics appear to have been reorganized or relocated within the document
Risk Factors
The two filings could not be meaningfully compared for this section.
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
No open-market insider purchases or sales are on record for VATE — recent Form 4 activity was compensation-related (awards, option exercises, or tax withholding), not open-market buying or selling.
View full insider trading history → View SEC Form 3/4/5 filingsOnly open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Institutional ownership (13F)
3 institutional 13F filers reported holding VATE as of 2026-03-31 (quarter-end position, filed within 45 days).
- Distinct 13F filers 3
- Reported shares held 174,941
- Reported value $993,666
reported quarterly holdings change (2025-12-31 → 2026-03-31): 0 new, 1 increased, 1 decreased, 0 exited. Change counts cover only managers that filed 13F reports in BOTH quarters, derived between two quarter-end snapshots — not same-day trades; a single manager is never said to have "bought" or "sold".
Institutional holdings are quarter-end long positions reported on SEC Form 13F-HR, filed up to 45 days after the quarter ends — they are delayed, are not real-time trades, exclude short positions and most non-US securities, and are not investment advice. Any increase/decrease is a reported change between two quarterly snapshots, not a same-day purchase or sale. These are quarter-end snapshots from the 13F filings on SEC EDGAR, filed within 45 days — not real-time, and any change is a difference between two quarterly reports, not a same-day trade. Informational only — not financial advice.
Short interest (FINRA)
VATE had 438,306 shares of reported short interest as of the 2026-07-31 FINRA settlement date (delayed, bi-monthly; not real-time).
VATE had 3.21% of its shares outstanding sold short as of the 2026-07-31 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 4.83 days to cover at the same settlement.
- Reported short interest (shares) 438,306
- Short interest (% of shares outstanding) 3.21%
- Prior settlement (shares) 456,004
- Reported change -3.88%
- Days to cover (reported) 4.83
Reported to FINRA as of the 2026-07-31 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
- Turner Construction
- Bechtel
- Granite Construction
- Gray Television Group
- Nexstar Media Group
- Charles River Laboratories
- Parexel International
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
Compare VATE vs…
Frequently asked questions
What does INNOVATE CORP (VATE) do?
INNOVATE Corp is a diversified industrial holding company operating through three main segments: Infrastructure (structural and steel construction services via DBM Global Inc.), Life Sciences (healthcare and biotechnology product development support via Pansend Life Sciences), and Spectrum (over-the-air broadcasting stations via HC2 Broadcasting Holdings).
What sector is INNOVATE CORP (VATE) in?
INNOVATE CORP (VATE) is classified in the Industrials sector. Its industry is Diversified industrial holding company with construction, life sciences support, and broadcasting segments. It trades on NYSE.
Does VATE pay a dividend?
Yes — INNOVATE CORP (VATE) pays a dividend, with an indicated yield of about 3.59% (market data, as of 2026-08-24). Informational only — not financial advice.
Who are INNOVATE CORP's (VATE) competitors?
Notable peers of INNOVATE CORP (VATE) include Turner Construction, Bechtel, Granite Construction, Gray Television Group and Nexstar Media Group. This peer set is informational only — not financial advice.
Is INNOVATE CORP (VATE) overbought or oversold right now?
INNOVATE CORP (VATE) is currently neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 44, in the neutral middle (as of 2026-08-21). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on VATE come from?
Fundamentals and prices come from market data, as of 2026-08-24; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: market data, as of 2026-08-24. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-08-21.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.