Manitex International, Inc. (NASDAQ:MNTX – Get Free Report) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 157,400 shares, an increase of 464.2% from the November 30th total of 27,900 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 107,900 shares, the days-to-cover ratio is currently 1.5 days.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the stock. StockNews.com began coverage on shares of Manitex International in a report on Saturday, November 18th. They set a “buy” rating on the stock. Roth Mkm restated a “buy” rating and issued a $8.00 price objective on shares of Manitex International in a research note on Monday, September 18th. Finally, TheStreet upgraded shares of Manitex International from a “d+” rating to a “c-” rating in a research note on Friday, November 17th.
Manitex International Stock Performance
Manitex International stock traded down $0.07 during mid-day trading on Thursday, reaching $8.95. The company had a trading volume of 44,589 shares, compared to its average volume of 45,724. The company has a quick ratio of 0.63, a current ratio of 1.60 and a debt-to-equity ratio of 1.01. The firm has a market cap of $181.24 million, a price-to-earnings ratio of 63.93 and a beta of 0.94. The company has a 50 day moving average of $6.39 and a 200-day moving average of $5.40. Manitex International has a 52 week low of $3.48 and a 52 week high of $9.16.
Manitex International (NASDAQ:MNTX – Get Free Report) last released its earnings results on Thursday, November 2nd. The industrial products company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.09. The business had revenue of $71.33 million for the quarter, compared to the consensus estimate of $67.48 million. Manitex International had a return on equity of 11.50% and a net margin of 0.91%. On average, sell-side analysts expect that Manitex International will post 0.43 EPS for the current fiscal year.
Institutional Investors Weigh In On Manitex International
Institutional investors have recently bought and sold shares of the business. First Eagle Investment Management LLC lifted its holdings in shares of Manitex International by 16.3% during the third quarter. First Eagle Investment Management LLC now owns 301,084 shares of the industrial products company’s stock valued at $1,406,000 after acquiring an additional 42,261 shares during the period. Royce & Associates LP boosted its position in Manitex International by 2.6% in the first quarter. Royce & Associates LP now owns 1,467,735 shares of the industrial products company’s stock valued at $7,647,000 after buying an additional 37,220 shares in the last quarter. First Wilshire Securities Management Inc. grew its stake in Manitex International by 3.7% during the first quarter. First Wilshire Securities Management Inc. now owns 957,754 shares of the industrial products company’s stock worth $4,990,000 after buying an additional 34,380 shares during the last quarter. Legato Capital Management LLC increased its holdings in shares of Manitex International by 35.9% during the second quarter. Legato Capital Management LLC now owns 127,614 shares of the industrial products company’s stock worth $694,000 after buying an additional 33,703 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Manitex International by 42.7% during the fourth quarter. Renaissance Technologies LLC now owns 94,940 shares of the industrial products company’s stock worth $380,000 after buying an additional 28,400 shares in the last quarter. Institutional investors and hedge funds own 43.38% of the company’s stock.
About Manitex International
Manitex International, Inc provides engineered lifting solutions in the United States, Italy, Canada, France, Chile, and internationally. The company designs, manufactures, and distributes products that are used in various industries. It also offers boom trucks, truck cranes, and sign cranes products primarily for use in industrial projects, energy exploration, and infrastructure development comprising roads, bridges, and commercial construction; and truck-mounted aerial platforms.