Virco Mfg. Co. (NASDAQ:VIRC) was the recipient of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 18,300 shares, a decline of 15.3% from the December 15th total of 21,600 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 10,400 shares, the days-to-cover ratio is currently 1.8 days.

Shares of VIRC opened at $4.37 on Wednesday. The firm has a market cap of $68.66 million, a PE ratio of -43.69 and a beta of 0.69. The stock’s fifty day moving average price is $4.14 and its two-hundred day moving average price is $4.17. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.49 and a quick ratio of 0.80. Virco Mfg. has a 1 year low of $3.30 and a 1 year high of $5.00.

Several analysts have issued reports on VIRC shares. Zacks Investment Research upgraded Virco Mfg. from a “hold” rating to a “strong-buy” rating and set a $4.75 target price on the stock in a research note on Thursday, December 19th. ValuEngine upgraded Virco Mfg. from a “hold” rating to a “buy” rating in a research note on Friday, October 25th.

A hedge fund recently raised its stake in Virco Mfg. stock. Renaissance Technologies LLC raised its position in Virco Mfg. Co. (NASDAQ:VIRC) by 1.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 190,600 shares of the company’s stock after buying an additional 2,600 shares during the quarter. Renaissance Technologies LLC owned about 1.23% of Virco Mfg. worth $890,000 at the end of the most recent reporting period. Institutional investors own 31.43% of the company’s stock.

About Virco Mfg.

Virco Mfg. Corporation engages in the design, production, and distribution of furniture for the commercial and education markets in the United States. It offers seating products, including 4-leg chairs, cantilever and tablet arm chairs, work surfaces and compact footprints, steel-frame rockers, stools, task and classroom chairs, stack and folding chairs, hard plastic seats, upholstered stack and ergonomic chairs, and plastic stack chairs.

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