IES Holdings, Inc. (NASDAQ:IESC) Short Interest Up 81.2% in August

IES Holdings, Inc. (NASDAQ:IESC) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 1,225,405 shares, a growth of 81.2% from the August 15th total of 676,146 shares. Approximately 7.1% of the company’s stock are sold short. Based on an average daily trading volume, of 263,361 shares, the days-to-cover ratio is presently 4.7 days.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IESC. Weiss Ratings cut IES from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, September 1st. Freedom Broker raised IES from a “hold” rating to a “buy” rating and set a $440.00 price target on the stock in a research report on Friday, September 11th. Finally, Wall Street Zen cut IES from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 12th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, IES currently has an average rating of “Moderate Buy” and an average target price of $277.25.

Institutional Trading of IES

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parsifal Capital Management LP acquired a new stake in IES during the 2nd quarter worth approximately $35,977,035,000. BlackRock Inc. acquired a new position in IES during the second quarter valued at approximately $649,086,000. JB Capital Partners LP purchased a new stake in IES during the second quarter worth approximately $617,849,000. First Trust Advisors LP grew its stake in IES by 40.4% during the first quarter. First Trust Advisors LP now owns 349,163 shares of the technology company’s stock worth $166,366,000 after buying an additional 100,425 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of IES by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 274,725 shares of the technology company’s stock worth $106,887,000 after acquiring an additional 6,349 shares in the last quarter. Hedge funds and other institutional investors own 86.60% of the company’s stock.

IES Stock Performance

NASDAQ:IESC traded down $7.86 during trading hours on Thursday, hitting $317.16. The company’s stock had a trading volume of 189,614 shares, compared to its average volume of 428,602. The business’s 50-day moving average is $245.77 and its two-hundred day moving average is $183.61. The company has a market capitalization of $12.64 billion, a PE ratio of 28.18 and a beta of 1.78. IES has a 52-week low of $170.07 and a 52-week high of $408.26.

IES (NASDAQ:IESC) last issued its earnings results on Friday, July 31st. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.21 by $0.47. IES had a net margin of 11.40% and a return on equity of 35.70%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.08 billion.

IES Company Profile

IES Holdings, Inc (NASDAQ: IESC) is an industrial technology and infrastructure services company that designs, manufactures and installs electrical and mechanical systems. The company serves customers across the data center, industrial, commercial, residential and communications markets.

Its businesses provide electrical contracting, power distribution and control systems, communications infrastructure, structured cabling and related installation services. IES also manufactures and integrates modular and engineered systems used in data centers and other mission-critical facilities, while its residential operations support electrical and other building-system needs for housing construction.

Founded in 1997, IES Holdings serves customers primarily in the United States through operating companies and facilities located across multiple regions.