Vertiv Holdings Co (NYSE:VRT) Short Interest Up 21.1% in March

Vertiv Holdings Co (NYSE:VRTGet Rating) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 9,640,000 shares, a growth of 21.1% from the March 15th total of 7,960,000 shares. Based on an average daily trading volume, of 5,060,000 shares, the short-interest ratio is presently 1.9 days. Approximately 3.2% of the shares of the stock are short sold.

VRT has been the topic of a number of research analyst reports. Cowen cut Vertiv from an “outperform” rating to a “market perform” rating and set a $11.50 target price on the stock. in a research note on Thursday, February 24th. JPMorgan Chase & Co. raised Vertiv from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $29.00 to $18.00 in a research note on Friday, April 1st. Vertical Research reaffirmed a “hold” rating and set a $15.00 price objective on shares of Vertiv in a research note on Wednesday, February 23rd. TheStreet cut Vertiv from a “c-” rating to a “d” rating in a research note on Wednesday, February 23rd. Finally, The Goldman Sachs Group reduced their price objective on Vertiv from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, March 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.65.

In other Vertiv news, EVP Patrick R. Johnson acquired 10,000 shares of the stock in a transaction that occurred on Thursday, March 3rd. The shares were bought at an average price of $11.50 per share, for a total transaction of $115,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert Joseph Johnson sold 100,000 shares of the stock in a transaction on Friday, February 25th. The shares were sold at an average price of $12.77, for a total value of $1,277,000.00. The disclosure for this sale can be found here. Insiders purchased 38,000 shares of company stock worth $475,960 in the last quarter. 5.06% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in VRT. Standard Family Office LLC purchased a new position in shares of Vertiv during the fourth quarter valued at approximately $26,000. NEXT Financial Group Inc lifted its holdings in shares of Vertiv by 235.1% during the fourth quarter. NEXT Financial Group Inc now owns 1,793 shares of the company’s stock valued at $44,000 after purchasing an additional 1,258 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Vertiv by 148.2% during the third quarter. Captrust Financial Advisors now owns 2,090 shares of the company’s stock valued at $50,000 after purchasing an additional 1,248 shares during the last quarter. Missouri Trust & Investment Co purchased a new position in shares of Vertiv during the fourth quarter valued at approximately $50,000. Finally, Altshuler Shaham Ltd purchased a new position in shares of Vertiv during the third quarter valued at approximately $61,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

VRT traded up $0.69 on Tuesday, hitting $13.07. The company had a trading volume of 4,145,812 shares, compared to its average volume of 4,852,877. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.45 and a quick ratio of 1.12. Vertiv has a 52-week low of $9.59 and a 52-week high of $28.80. The stock has a fifty day simple moving average of $14.36 and a 200-day simple moving average of $20.75. The firm has a market capitalization of $4.91 billion, a P/E ratio of 39.85, a P/E/G ratio of 1.17 and a beta of 1.14.

Vertiv (NYSE:VRTGet Rating) last issued its quarterly earnings data on Thursday, February 24th. The company reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.24). Vertiv had a return on equity of 30.27% and a net margin of 2.39%. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the business earned $0.33 earnings per share. The business’s quarterly revenue was up 8.1% on a year-over-year basis. Equities research analysts expect that Vertiv will post 0.64 earnings per share for the current fiscal year.

About Vertiv (Get Rating)

Vertiv Holdings Co, together with its subsidiaries, designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments. It offers AC and DC power management products, thermal management products, integrated rack systems, modular solutions, and management systems for monitoring and controlling digital infrastructure that are integral to the technologies used for various services, including e-commerce, online banking, file sharing, video on-demand, energy storage, wireless communications, Internet of Things, and online gaming.

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