Short Interest in Inventure Foods, Inc. (SNAK) Declines By 47.1%
Inventure Foods, Inc. (NASDAQ:SNAK) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,228,192 shares, a decline of 47.1% from the October 13th total of 2,323,192 shares. Based on an average trading volume of 658,203 shares, the days-to-cover ratio is presently 1.9 days. Currently, 6.5% of the company’s stock are sold short.
Inventure Foods (NASDAQ:SNAK) opened at $3.99 on Friday. Inventure Foods has a fifty-two week low of $2.96 and a fifty-two week high of $10.15.
Inventure Foods (NASDAQ:SNAK) last posted its quarterly earnings data on Tuesday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter. The business had revenue of $27.43 million for the quarter, compared to analysts’ expectations of $52.10 million. Inventure Foods’s revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.13) earnings per share. equities analysts anticipate that Inventure Foods will post -0.13 earnings per share for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of SNAK. OppenheimerFunds Inc. purchased a new position in Inventure Foods during the 1st quarter worth $228,000. Dimensional Fund Advisors LP boosted its holdings in shares of Inventure Foods by 4.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 212,982 shares of the company’s stock worth $941,000 after buying an additional 9,300 shares during the last quarter. KCG Holdings Inc. boosted its holdings in shares of Inventure Foods by 116.3% in the 1st quarter. KCG Holdings Inc. now owns 26,093 shares of the company’s stock worth $115,000 after buying an additional 14,032 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Inventure Foods by 263.2% in the 1st quarter. Bank of America Corp DE now owns 83,907 shares of the company’s stock worth $371,000 after buying an additional 60,802 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan purchased a new position in shares of Inventure Foods in the 2nd quarter worth about $216,000. 69.62% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on the stock. William Blair reaffirmed a “market perform” rating on shares of Inventure Foods in a report on Wednesday, November 1st. ValuEngine raised shares of Inventure Foods from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 25th.
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About Inventure Foods
Inventure Foods, Inc is a marketer and manufacturer of healthy/natural and indulgent specialty snack food brands. The Company operates in the snack products segment. The snack products segment produces potato chips, kettle chips, potato crisps, potato skins, pellet snacks, sheeted dough products and extruded products for sale primarily to snack food distributors and retailers.
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