Short Interest in EXFO Inc. (NASDAQ:EXFO) Declines By 88.3%


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EXFO Inc. (NASDAQ:EXFO) (TSE:EXF) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 900 shares, a decrease of 88.3% from the March 15th total of 7,700 shares. Based on an average trading volume of 66,200 shares, the days-to-cover ratio is presently 0.0 days.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in EXFO by 7.4% in the 4th quarter. JPMorgan Chase & Co. now owns 36,153 shares of the communications equipment provider’s stock valued at $123,000 after purchasing an additional 2,501 shares during the period. Brandes Investment Partners LP bought a new stake in EXFO in the 4th quarter valued at $613,000. Renaissance Technologies LLC boosted its stake in EXFO by 2.1% in the 4th quarter. Renaissance Technologies LLC now owns 1,028,373 shares of the communications equipment provider’s stock valued at $3,507,000 after purchasing an additional 21,000 shares during the period. Finally, Wells Fargo & Company MN bought a new stake in shares of EXFO during the 4th quarter valued at $34,000. Institutional investors and hedge funds own 10.87% of the company’s stock.

EXFO traded up $0.01 during trading on Tuesday, hitting $3.95. The stock had a trading volume of 428 shares, compared to its average volume of 63,980. The company has a 50 day moving average price of $4.27 and a 200-day moving average price of $3.51. The firm has a market cap of $226.44 million, a price-to-earnings ratio of -35.64 and a beta of 1.37. EXFO has a one year low of $2.12 and a one year high of $4.69. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.44 and a quick ratio of 0.97.

EXFO (NASDAQ:EXFO) (TSE:EXF) last released its quarterly earnings results on Tuesday, April 6th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.04). EXFO had a negative net margin of 2.25% and a negative return on equity of 1.55%. As a group, sell-side analysts predict that EXFO will post 0.28 EPS for the current fiscal year.

Several research firms have issued reports on EXFO. National Bankshares increased their price objective on EXFO from $3.50 to $4.50 and gave the stock a “sector perform” rating in a research note on Thursday, April 8th. TD Securities increased their price objective on EXFO from $3.50 to $4.00 and gave the stock a “hold” rating in a research note on Wednesday, January 13th. Zacks Investment Research lowered EXFO from a “buy” rating to a “hold” rating in a research note on Monday. Northland Securities restated a “buy” rating and issued a $6.00 target price on shares of EXFO in a research note on Thursday, April 8th. Finally, Canaccord Genuity restated a “hold” rating and issued a $4.00 target price on shares of EXFO in a research note on Thursday, April 8th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $4.39.

EXFO Company Profile

EXFO Inc provides test, monitoring, and analytics solutions for fixed and mobile network operators, web-scale companies, and optical component and network equipment manufacturers in the communications industry. It offers field network testing products, such as copper/DSL testing, dispersion analysis, fiber inspection, light sources, live fiber detection, network protocol testing, optical fiber multimeter, optical loss testing, OTDR and iOLM, power meters, spectral testing, test function virtualization, test reporting and automation, and variable attenuators products, as well as modular test platforms.

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