Art’s-Way Manufacturing Co., Inc. (NASDAQ:ARTW) Sees Large Drop in Short Interest

Art’s-Way Manufacturing Co., Inc. (NASDAQ:ARTW) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 1,241 shares, a drop of 49.9% from the May 31st total of 2,476 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 16,078 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On Art’s-Way Manufacturing

Hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its stake in shares of Art’s-Way Manufacturing by 9.6% in the first quarter. Dimensional Fund Advisors LP now owns 44,679 shares of the industrial products company’s stock worth $93,000 after buying an additional 3,899 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Art’s-Way Manufacturing by 13.7% in the 1st quarter. Renaissance Technologies LLC now owns 141,474 shares of the industrial products company’s stock valued at $296,000 after acquiring an additional 17,000 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in Art’s-Way Manufacturing in the 3rd quarter valued at about $47,000. XTX Topco Ltd purchased a new position in Art’s-Way Manufacturing in the 4th quarter worth approximately $51,000. Finally, Citadel Advisors LLC purchased a new position in Art’s-Way Manufacturing in the 3rd quarter worth approximately $108,000. 2.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Art’s-Way Manufacturing from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, April 16th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Art’s-Way Manufacturing Price Performance

Shares of NASDAQ ARTW traded up $0.07 during trading on Tuesday, hitting $2.69. The company had a trading volume of 10,196 shares, compared to its average volume of 16,013. Art’s-Way Manufacturing has a fifty-two week low of $1.95 and a fifty-two week high of $4.71. The stock has a fifty day simple moving average of $2.67 and a two-hundred day simple moving average of $2.45. The company has a quick ratio of 0.58, a current ratio of 2.02 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $13.91 million, a price-to-earnings ratio of 10.74 and a beta of 0.96.

Art’s-Way Manufacturing (NASDAQ:ARTW) last released its earnings results on Monday, April 13th. The industrial products company reported $0.04 earnings per share for the quarter. The business had revenue of $6.64 million for the quarter. Art’s-Way Manufacturing had a return on equity of 0.98% and a net margin of 5.26%.

Art’s-Way Manufacturing Company Profile

Art’s-Way Manufacturing Co, Inc (NASDAQ: ARTW) is a diversified industrial company that designs, manufactures and markets a range of agricultural and building products. The company’s agricultural equipment segment produces feed grinders, mixers, conveyors and related implements used in livestock and crop‐feeding operations. These products are engineered to streamline feed preparation and delivery for hog, beef and dairy producers across North America.

In its building products segment, Art’s-Way offers prefabricated steel structures, modular shelters and portable storage solutions suitable for agriculture, industrial and commercial applications.