Short Interest in GMR Solutions Inc. (NYSE:GMRS) Expands By 115.0%

GMR Solutions Inc. (NYSE:GMRS) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totaling 1,560,500 shares, a growth of 115.0% from the June 15th total of 725,948 shares. Based on an average daily volume of 1,145,786 shares, the days-to-cover ratio is currently 1.4 days. Currently, 2.9% of the shares of the stock are sold short.

GMR Solutions Stock Performance

Shares of GMRS traded up $0.22 during mid-day trading on Wednesday, reaching $14.27. The stock had a trading volume of 99,033 shares, compared to its average volume of 990,847. GMR Solutions has a 52-week low of $10.26 and a 52-week high of $15.98. The stock has a market capitalization of $770.75 million and a price-to-earnings ratio of 50.96. The company has a fifty day moving average of $13.06.

GMR Solutions (NYSE:GMRS) last issued its earnings results on Monday, June 1st. The company reported $0.28 EPS for the quarter. The firm had revenue of $1.46 billion for the quarter.

Wall Street Analysts Forecast Growth

GMRS has been the subject of a number of recent research reports. The Goldman Sachs Group began coverage on shares of GMR Solutions in a research report on Monday, June 8th. They issued a “buy” rating and a $35.00 target price for the company. Zacks Research raised shares of GMR Solutions to a “hold” rating in a research note on Tuesday, June 9th. Barclays initiated coverage on shares of GMR Solutions in a report on Monday, June 8th. They issued an “overweight” rating and a $16.00 price objective for the company. Needham & Company LLC set a $18.00 target price on GMR Solutions in a report on Monday, June 8th. Finally, Bank of America started coverage on GMR Solutions in a research report on Monday, June 8th. They issued a “buy” rating and a $18.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, GMR Solutions has an average rating of “Moderate Buy” and an average target price of $19.22.