Hennessy Advisors, Inc. (NASDAQ:HNNA) Sees Significant Decrease in Short Interest

Hennessy Advisors, Inc. (NASDAQ:HNNA) was the target of a significant decrease in short interest in January. As of January 15th, there was short interest totaling 5,595 shares, a decrease of 40.6% from the December 31st total of 9,413 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily volume of 23,687 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily volume of 23,687 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Truffle Hound Capital LLC grew its holdings in shares of Hennessy Advisors by 241.8% in the 3rd quarter. Truffle Hound Capital LLC now owns 150,857 shares of the asset manager’s stock worth $1,576,000 after purchasing an additional 106,726 shares during the last quarter. Navellier & Associates Inc. lifted its stake in shares of Hennessy Advisors by 72.2% during the third quarter. Navellier & Associates Inc. now owns 73,647 shares of the asset manager’s stock valued at $770,000 after acquiring an additional 30,889 shares during the period. Citadel Advisors LLC bought a new position in shares of Hennessy Advisors in the 3rd quarter valued at about $218,000. Evergreen Capital Management LLC bought a new position in Hennessy Advisors in the second quarter valued at approximately $190,000. Finally, Susquehanna International Group LLP increased its holdings in Hennessy Advisors by 108.5% in the third quarter. Susquehanna International Group LLP now owns 26,553 shares of the asset manager’s stock valued at $280,000 after purchasing an additional 13,819 shares during the last quarter. Institutional investors and hedge funds own 10.31% of the company’s stock.

Hennessy Advisors Stock Performance

HNNA traded down $0.27 during midday trading on Friday, reaching $10.09. The company’s stock had a trading volume of 21,229 shares, compared to its average volume of 19,334. The company has a current ratio of 12.73, a quick ratio of 12.72 and a debt-to-equity ratio of 0.41. The company has a fifty day simple moving average of $9.94 and a 200 day simple moving average of $10.65. The stock has a market cap of $79.59 million, a P/E ratio of 8.00 and a beta of 0.64. Hennessy Advisors has a twelve month low of $8.43 and a twelve month high of $13.19.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Hennessy Advisors in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Hennessy Advisors has an average rating of “Hold”.

Hennessy Advisors Company Profile

Hennessy Advisors, Inc is an investment advisory firm specializing in the management of closed-end and open-end funds, as well as separate account strategies. Serving as the investment adviser to a family of publicly traded closed-end funds and a series of mutual funds, the company focuses on generating income and total return for its shareholders by deploying a range of equity and fixed-income strategies. Hennessy Advisors is registered with the U.S. Securities and Exchange Commission and operates under the Investment Advisers Act of 1940.

The firm’s product lineup includes multiple closed-end funds that invest in U.S.