Manitex International Inc (NASDAQ:MNTX) Short Interest Up 13.3% in August
Manitex International Inc (NASDAQ:MNTX) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 287,000 shares, an increase of 13.3% from the July 31st total of 253,400 shares. Based on an average trading volume of 88,800 shares, the days-to-cover ratio is presently 3.2 days. Approximately 2.0% of the shares of the company are short sold.
MNTX stock traded down $0.04 during trading hours on Friday, reaching $5.95. The stock had a trading volume of 1,731 shares, compared to its average volume of 42,748. The stock has a market capitalization of $115.38 million, a PE ratio of 18.00, a price-to-earnings-growth ratio of 1.83 and a beta of 1.59. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.83 and a quick ratio of 0.90. The stock has a 50-day simple moving average of $5.85 and a 200 day simple moving average of $6.66. Manitex International has a fifty-two week low of $4.80 and a fifty-two week high of $11.76.
Manitex International (NASDAQ:MNTX) last announced its quarterly earnings results on Thursday, August 8th. The industrial products company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. The firm had revenue of $60.97 million during the quarter. Manitex International had a negative net margin of 2.74% and a positive return on equity of 6.11%. On average, sell-side analysts forecast that Manitex International will post 0.32 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the business. River & Mercantile Asset Management LLP acquired a new stake in shares of Manitex International during the 2nd quarter worth about $1,458,000. Vanguard Group Inc. lifted its stake in shares of Manitex International by 24.6% during the 2nd quarter. Vanguard Group Inc. now owns 727,181 shares of the industrial products company’s stock worth $4,443,000 after buying an additional 143,414 shares during the last quarter. Pacific Ridge Capital Partners LLC lifted its stake in shares of Manitex International by 20.0% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 726,532 shares of the industrial products company’s stock worth $5,558,000 after buying an additional 121,293 shares during the last quarter. First Wilshire Securities Management Inc. lifted its stake in shares of Manitex International by 21.4% during the 2nd quarter. First Wilshire Securities Management Inc. now owns 613,460 shares of the industrial products company’s stock worth $3,748,000 after buying an additional 108,099 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Manitex International during the 2nd quarter worth about $507,000. Hedge funds and other institutional investors own 51.78% of the company’s stock.
A number of analysts have commented on the stock. ValuEngine upgraded shares of Manitex International from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Dougherty & Co reiterated a “buy” rating on shares of Manitex International in a research note on Wednesday, August 28th. Finally, Zacks Investment Research upgraded shares of Manitex International from a “hold” rating to a “strong-buy” rating and set a $8.25 price target for the company in a research note on Thursday, May 16th.
About Manitex International
Manitex International, Inc provides engineered lifting solutions worldwide. The company designs, manufactures, and distributes products that are used in various industries. It also offers boom trucks and crane products primarily for use in industrial projects, energy exploration, and infrastructure development comprising roads, bridges, and commercial construction.
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