Short Interest in Gibraltar Industries, Inc. (NASDAQ:ROCK) Rises By 23.6%

Gibraltar Industries, Inc. (NASDAQ:ROCK) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 497,300 shares, a growth of 23.6% from the October 15th total of 402,200 shares. Based on an average daily trading volume, of 181,500 shares, the short-interest ratio is presently 2.7 days. Approximately 1.7% of the company’s stock are sold short.

Gibraltar Industries Price Performance

Shares of NASDAQ ROCK traded down $1.27 during mid-day trading on Friday, reaching $70.74. The company’s stock had a trading volume of 28,082 shares, compared to its average volume of 175,687. The stock has a fifty day moving average of $69.09 and a two-hundred day moving average of $70.28. Gibraltar Industries has a 52 week low of $61.92 and a 52 week high of $87.40. The firm has a market capitalization of $2.15 billion, a PE ratio of 20.00 and a beta of 1.14.

Gibraltar Industries (NASDAQ:ROCK) last released its quarterly earnings data on Wednesday, October 30th. The construction company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.01. The firm had revenue of $361.20 million for the quarter, compared to analysts’ expectations of $360.43 million. Gibraltar Industries had a net margin of 8.28% and a return on equity of 13.13%. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.38 earnings per share. Analysts anticipate that Gibraltar Industries will post 4.18 EPS for the current fiscal year.

Institutional Trading of Gibraltar Industries

Several hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC lifted its holdings in shares of Gibraltar Industries by 271.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 379 shares of the construction company’s stock valued at $27,000 after acquiring an additional 277 shares during the last quarter. Innealta Capital LLC purchased a new stake in Gibraltar Industries during the 2nd quarter valued at $39,000. GAMMA Investing LLC lifted its position in Gibraltar Industries by 30.6% in the third quarter. GAMMA Investing LLC now owns 725 shares of the construction company’s stock worth $51,000 after buying an additional 170 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Gibraltar Industries in the second quarter valued at $55,000. Finally, Quarry LP raised its position in Gibraltar Industries by 428.9% in the 2nd quarter. Quarry LP now owns 989 shares of the construction company’s stock worth $68,000 after purchasing an additional 802 shares during the period. 98.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 22nd.

About Gibraltar Industries

Gibraltar Industries, Inc manufactures and provides products and services for the renewable energy, residential, agtech, and infrastructure markets in the United States and internationally. It operates through four segments: Renewables, Residential, Agtech, and Infrastructure. The Renewables segment designs, engineers, manufactures, and installs solar racking and electrical balance of systems for commercial and distributed generation scale solar installations.