Generac Holdings Inc. (NYSE:GNRC) Sees Significant Growth in Short Interest

Generac Holdings Inc. (NYSE:GNRCGet Rating) was the recipient of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 2,960,000 shares, a growth of 54.2% from the March 31st total of 1,920,000 shares. Based on an average trading volume of 847,500 shares, the short-interest ratio is currently 3.5 days. Approximately 4.7% of the shares of the company are sold short.

In other Generac news, CMO Russell S. Minick sold 11,389 shares of the business’s stock in a transaction that occurred on Friday, March 4th. The stock was sold at an average price of $318.01, for a total transaction of $3,621,815.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Aaron Jagdfeld sold 34,894 shares of the business’s stock in a transaction that occurred on Tuesday, February 1st. The stock was sold at an average price of $282.46, for a total value of $9,856,159.24. The disclosure for this sale can be found here. Insiders sold a total of 56,283 shares of company stock worth $16,544,125 in the last 90 days. 2.80% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of GNRC. Key Financial Inc purchased a new position in shares of Generac during the 1st quarter worth $29,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Generac during the 4th quarter worth $33,000. Lindbrook Capital LLC increased its holdings in shares of Generac by 2,700.0% during the 3rd quarter. Lindbrook Capital LLC now owns 84 shares of the technology company’s stock worth $34,000 after buying an additional 81 shares during the last quarter. American National Bank increased its holdings in shares of Generac by 59.2% during the 1st quarter. American National Bank now owns 121 shares of the technology company’s stock worth $36,000 after buying an additional 45 shares during the last quarter. Finally, Covestor Ltd acquired a new stake in shares of Generac during the 4th quarter worth $37,000. 88.54% of the stock is currently owned by institutional investors.

GNRC stock traded down $13.94 on Friday, reaching $219.38. The company had a trading volume of 819,327 shares, compared to its average volume of 912,158. Generac has a 1 year low of $218.93 and a 1 year high of $524.31. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.66 and a current ratio of 1.60. The company’s fifty day moving average is $289.35 and its 200 day moving average is $341.16. The company has a market cap of $13.99 billion, a P/E ratio of 26.40, a PEG ratio of 2.01 and a beta of 1.00.

Generac (NYSE:GNRCGet Rating) last posted its earnings results on Wednesday, February 16th. The technology company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.13. Generac had a return on equity of 34.50% and a net margin of 14.73%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the company earned $2.12 EPS. Generac’s revenue was up 40.2% on a year-over-year basis. On average, sell-side analysts predict that Generac will post 11.46 earnings per share for the current year.

Several equities analysts have issued reports on the company. Zacks Investment Research upgraded Generac from a “sell” rating to a “hold” rating and set a $318.00 target price on the stock in a research report on Friday, February 18th. Oppenheimer dropped their target price on Generac from $540.00 to $450.00 and set an “outperform” rating on the stock in a research report on Thursday, February 17th. The Goldman Sachs Group upgraded Generac from a “neutral” rating to a “buy” rating and set a $410.00 target price on the stock in a research report on Monday, April 4th. Truist Financial decreased their price target on Generac from $500.00 to $425.00 and set a “buy” rating on the stock in a research note on Monday, January 24th. Finally, JPMorgan Chase & Co. decreased their price target on Generac from $520.00 to $463.00 in a research note on Thursday, January 20th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Generac presently has a consensus rating of “Buy” and a consensus price target of $451.45.

Generac Company Profile (Get Rating)

Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, and other power products for the residential, and light commercial and industrial markets worldwide. The company offers engines, alternators, batteries, electronic controls, steel enclosures, and other components.

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