Art’s-Way Manufacturing Co., Inc. (NASDAQ:ARTW) Shares Shorted: Short Interest Down 38.7% in October

Art’s-Way Manufacturing Co., Inc. (NASDAQ:ARTW) was the recipient of a large drop in short interest in October. As of October 15th, there was short interest totaling 36,667 shares, a drop of 38.7% from the September 30th total of 59,792 shares. Based on an average daily volume of 14,726 shares, the short-interest ratio is currently 2.5 days. Approximately 1.5% of the shares of the stock are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings raised Art’s-Way Manufacturing from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock has an average rating of “Sell”.

Hedge Funds Weigh In On Art’s-Way Manufacturing

A number of hedge funds have recently bought and sold shares of the business. Susquehanna International Group LLP grew its position in shares of Art’s-Way Manufacturing by 69.7% during the second quarter. Susquehanna International Group LLP now owns 19,664 shares of the industrial products company’s stock worth $52,000 after buying an additional 8,079 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Art’s-Way Manufacturing by 9.6% during the first quarter. Dimensional Fund Advisors LP now owns 44,679 shares of the industrial products company’s stock worth $93,000 after purchasing an additional 3,899 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Art’s-Way Manufacturing by 13.7% during the first 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 period. Hedge funds and other institutional investors own 2.91% of the company’s stock.

Art’s-Way Manufacturing Trading Down 10.3%

Shares of Art’s-Way Manufacturing stock opened at $2.71 on Friday. The stock has a market cap of $14.12 million, a PE ratio of -30.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.57 and a current ratio of 1.71. The firm has a 50-day moving average of $3.10 and a 200-day moving average of $2.64. Art’s-Way Manufacturing has a 52-week low of $2.05 and a 52-week high of $4.17.

Art’s-Way Manufacturing (NASDAQ:ARTW) last released its quarterly earnings results on Tuesday, October 13th. The industrial products company reported ($0.03) EPS for the quarter. The company had revenue of $5.62 million during the quarter. Art’s-Way Manufacturing had a negative net margin of 1.65% and a negative return on equity of 3.06%.

Art’s-Way Manufacturing Company Profile

Art’s-Way Manufacturing Co, Inc (NASDAQ:ARTW) designs and manufactures agricultural and rural-use equipment. The company’s product portfolio includes machinery for forage harvesting, manure handling, hay production, tillage, land maintenance, snow removal and grain handling, serving farmers, agricultural contractors and other rural customers.

Its equipment is marketed under the Art’s-Way brand and is distributed primarily through a network of agricultural equipment dealers. The company serves customers in the United States and Canada, with products also reaching selected international markets through its distribution channels.

Founded in 1956 and headquartered in Armstrong, Iowa, Art’s-Way has developed from a regional agricultural equipment manufacturer into a publicly traded company with a broader lineup of farm and specialty machinery.