GMR Solutions Inc. (NYSE:GMRS) Short Interest Up 115.0% in June

GMR Solutions Inc. (NYSE:GMRS) saw a significant growth in short interest during the month of 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 trading volume, of 1,145,786 shares, the days-to-cover ratio is presently 1.4 days. Currently, 2.9% of the company’s shares are sold short.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on GMRS shares. Barclays assumed coverage on shares of GMR Solutions in a research note on Monday, June 8th. They issued an “overweight” rating and a $16.00 price target on the stock. Wall Street Zen raised GMR Solutions to a “hold” rating in a research report on Saturday, May 23rd. JPMorgan Chase & Co. began coverage on GMR Solutions in a research report on Monday, June 8th. They set an “overweight” rating and a $15.00 price target for the company. The Goldman Sachs Group initiated coverage on GMR Solutions in a report on Monday, June 8th. They issued a “buy” rating and a $35.00 price objective on the stock. Finally, Citigroup assumed coverage on GMR Solutions in a research note on Sunday, June 7th. They set a “buy” rating and a $17.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.22.

GMR Solutions Stock Up 1.6%

Shares of NYSE GMRS traded up $0.22 during mid-day trading on Wednesday, hitting $14.27. The company had a trading volume of 99,033 shares, compared to its average volume of 990,847. The stock has a market cap of $770.75 million and a P/E ratio of 50.96. GMR Solutions has a 1-year low of $10.26 and a 1-year high of $15.98. The business’s 50-day moving average price is $13.06.

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