Andersen Group Inc. (NYSE:ANDG) Stock Short Interest Climbs 55.0%

Andersen Group Inc. (NYSE:ANDG) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 3,015,211 shares, a growth of 55.0% from the September 15th total of 1,945,580 shares. Based on an average daily trading volume, of 583,982 shares, the days-to-cover ratio is presently 5.2 days. Currently, 3.1% of the company’s shares are sold short.

Andersen Group Price Performance

Shares of ANDG opened at $58.42 on Friday. The company has a market cap of $6.60 billion and a P/E ratio of -110.24. Andersen Group has a fifty-two week low of $18.12 and a fifty-two week high of $60.15. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 7.82. The firm’s 50 day moving average price is $53.97 and its 200 day moving average price is $43.30.

Andersen Group (NYSE:ANDG) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.07. The business had revenue of $217.66 million during the quarter. On average, research analysts forecast that Andersen Group will post 0.73 earnings per share for the current fiscal year.

Institutional Trading of Andersen Group

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in Andersen Group by 353.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,498 shares of the company’s stock worth $81,000 after purchasing an additional 1,168 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Andersen Group during the 2nd quarter worth about $592,000. Corient Private Wealth LP increased its holdings in Andersen Group by 67.2% during the 2nd quarter. Corient Private Wealth LP now owns 23,005 shares of the company’s stock worth $868,000 after purchasing an additional 9,245 shares during the period. Bank of America Corp DE raised its position in Andersen Group by 512.0% in the 1st quarter. Bank of America Corp DE now owns 12,852 shares of the company’s stock valued at $350,000 after purchasing an additional 10,752 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Andersen Group in the 1st quarter valued at about $1,686,000.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. BMO Capital Markets began coverage on shares of Andersen Group in a research report on Tuesday, September 8th. They set a “market perform” rating and a $58.00 price target for the company. Morgan Stanley boosted their price target on shares of Andersen Group from $27.00 to $54.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $56.00 price objective on shares of Andersen Group in a report on Friday, August 14th. Weiss Ratings raised shares of Andersen Group from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, September 24th. Finally, Truist Financial increased their price objective on shares of Andersen Group from $55.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Andersen Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.14.

Andersen Group Company Profile

Our mission is to deliver exceptional client service grounded in integrity, transparency, and excellence. Since our founding in 2002, we have experienced rapid and sustained growth, powered by our people, our values and our relentless commitment to innovative, client-focused solutions. Building on the rich traditions and culture of the former Arthur Andersen, we are driven by a bold vision to lead in a complex global marketplace, creating lasting value for our clients, our people and our investors.