Raven Industries, Inc. (NASDAQ:RAVN) Short Interest Update


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Raven Industries, Inc. (NASDAQ:RAVN) was the recipient of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 600,100 shares, a decline of 18.6% from the March 31st total of 737,100 shares. Approximately 1.7% of the shares of the company are short sold. Based on an average daily trading volume, of 319,800 shares, the short-interest ratio is presently 1.9 days.

A number of large investors have recently added to or reduced their stakes in RAVN. Bank of New York Mellon Corp lifted its position in Raven Industries by 183.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,235,183 shares of the conglomerate’s stock worth $40,872,000 after buying an additional 799,382 shares during the last quarter. Norges Bank bought a new stake in Raven Industries in the 4th quarter worth approximately $13,923,000. Bamco Inc. NY lifted its position in Raven Industries by 138.0% in the 4th quarter. Bamco Inc. NY now owns 595,000 shares of the conglomerate’s stock worth $19,689,000 after buying an additional 345,000 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in Raven Industries in the 4th quarter worth approximately $9,089,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Raven Industries by 93.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 421,835 shares of the conglomerate’s stock worth $16,169,000 after buying an additional 203,890 shares during the last quarter. Institutional investors own 77.44% of the company’s stock.

A number of equities analysts have recently weighed in on RAVN shares. TheStreet downgraded Raven Industries from a “b-” rating to a “c” rating in a research note on Monday, March 22nd. Zacks Investment Research downgraded Raven Industries from a “hold” rating to a “sell” rating in a research note on Friday, March 26th. Finally, Lake Street Capital began coverage on Raven Industries in a research note on Thursday, March 25th. They issued a “buy” rating and a $50.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. Raven Industries currently has an average rating of “Buy” and a consensus target price of $37.25.

Shares of NASDAQ:RAVN traded down $0.85 during trading on Tuesday, hitting $40.42. 169,786 shares of the company were exchanged, compared to its average volume of 307,942. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.14 and a quick ratio of 2.15. The company has a market cap of $1.45 billion, a PE ratio of 67.17, a P/E/G ratio of 4.51 and a beta of 1.48. Raven Industries has a 52-week low of $17.56 and a 52-week high of $45.11. The stock has a 50 day moving average of $38.47 and a 200 day moving average of $33.57.

Raven Industries (NASDAQ:RAVN) last issued its quarterly earnings results on Sunday, March 21st. The conglomerate reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.14). Raven Industries had a net margin of 6.18% and a return on equity of 9.49%. Sell-side analysts forecast that Raven Industries will post 0.83 EPS for the current fiscal year.

About Raven Industries

Raven Industries, Inc, a technology company, provides various products to customers in the industrial, agricultural, geo-membrane, construction, aerospace/defense, and commercial lighter-than-air markets worldwide. It operates in three segments: Applied Technology, Engineered Films, and Aerostar. The Applied Technology segment designs, manufactures, sells, and services precision agriculture products and information management tools that enable farmers to enhance farm yields.

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