Short Interest in Flex Ltd (FLEX) Drops By 10.0%
Flex Ltd (NASDAQ:FLEX) was the target of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 14,354,128 shares, a decrease of 10.0% from the November 15th total of 15,945,305 shares. Based on an average trading volume of 2,800,708 shares, the short-interest ratio is currently 5.1 days. Currently, 2.7% of the shares of the company are sold short.
Several research firms recently issued reports on FLEX. Royal Bank of Canada reiterated a “buy” rating and issued a $19.00 target price on shares of Flex in a research note on Friday, October 13th. Zacks Investment Research upgraded shares of Flex from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. ValuEngine upgraded shares of Flex from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Stifel Nicolaus boosted their target price on shares of Flex from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Finally, Argus boosted their target price on shares of Flex from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Flex presently has a consensus rating of “Buy” and an average price target of $19.53.
In related news, Director William D. Watkins sold 9,000 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $17.73, for a total value of $159,570.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David Scott Offer sold 45,000 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $17.71, for a total transaction of $796,950.00. The disclosure for this sale can be found here. 0.83% of the stock is owned by corporate insiders.
Flex (FLEX) opened at $17.97 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 0.70 and a debt-to-equity ratio of 1.01. The firm has a market cap of $9,501.93, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 0.99 and a beta of 0.81. Flex has a 12-month low of $14.22 and a 12-month high of $19.11.
Flex (NASDAQ:FLEX) last posted its quarterly earnings data on Thursday, October 26th. The technology company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. The company had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.09 billion. Flex had a net margin of 2.25% and a return on equity of 22.71%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 earnings per share. equities analysts predict that Flex will post 1.09 EPS for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: “Short Interest in Flex Ltd (FLEX) Drops By 10.0%” was originally reported by Watch List News and is owned by of Watch List News. If you are viewing this piece on another site, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The correct version of this piece can be viewed at https://www.watchlistnews.com/short-interest-in-flex-ltd-flex-drops-by-10-0/1772174.html.
Flex Ltd, formerly Flextronics International Ltd. provides design, engineering, manufacturing, and supply chain services and solutions. The Company designs, builds, ships and services packaged consumer electronics and industrial products for original equipment manufacturers (OEMs). Its segments include High Reliability Solutions (HRS), Consumer Technologies Group (CTG), Industrial and Emerging Industries (IEI) and Communications & Enterprise Compute (CEC).
Receive News & Ratings for Flex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flex and related companies with MarketBeat.com's FREE daily email newsletter.