Short Interest in The Shyft Group, Inc. (NASDAQ:SHYF) Decreases By 25.7%

The Shyft Group, Inc. (NASDAQ:SHYF) was the recipient of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 331,800 shares, a decrease of 25.7% from the January 15th total of 446,500 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average daily trading volume, of 226,300 shares, the short-interest ratio is currently 1.5 days.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SHYF shares. DA Davidson raised shares of The Shyft Group from a “neutral” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Wednesday, January 15th. Roth Mkm reaffirmed a “buy” rating and issued a $16.00 price target on shares of The Shyft Group in a report on Tuesday, December 17th.

The Shyft Group Price Performance

SHYF stock traded up $0.33 during mid-day trading on Friday, reaching $12.21. 135,853 shares of the company’s stock were exchanged, compared to its average volume of 177,316. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.82 and a quick ratio of 1.16. The company has a market cap of $421.17 million, a price-to-earnings ratio of -101.75 and a beta of 1.66. The Shyft Group has a 12-month low of $9.81 and a 12-month high of $17.56. The stock’s 50 day moving average is $11.93 and its 200 day moving average is $12.77.

Institutional Trading of The Shyft Group

Large investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC purchased a new stake in The Shyft Group during the 3rd quarter worth about $241,000. Royce & Associates LP grew its position in shares of The Shyft Group by 2.7% in the 3rd quarter. Royce & Associates LP now owns 953,018 shares of the company’s stock valued at $11,960,000 after buying an additional 24,770 shares during the last quarter. Foundry Partners LLC grew its stake in The Shyft Group by 1.0% during the 3rd quarter. Foundry Partners LLC now owns 322,755 shares of the company’s stock worth $4,051,000 after buying an additional 3,115 shares during the last quarter. Centaurus Financial Inc. grew its position in The Shyft Group by 0.6% during the 3rd quarter. Centaurus Financial Inc. now owns 433,056 shares of the company’s stock worth $5,435,000 after purchasing an additional 2,433 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of The Shyft Group by 301.4% during the third quarter. FMR LLC now owns 7,726 shares of the company’s stock worth $97,000 after buying an additional 5,801 shares during the last quarter. Hedge funds and other institutional investors own 85.84% of the company’s stock.

The Shyft Group Company Profile

The Shyft Group, Inc engages in the manufacture and assembly of specialty vehicles for the commercial and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment offers commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.