Infrastructure and Energy Alternatives, Inc. (NASDAQ:IEA) Short Interest Down 28.3% in April

Infrastructure and Energy Alternatives, Inc. (NASDAQ:IEAGet Rating) was the target of a large drop in short interest in April. As of April 15th, there was short interest totalling 1,520,000 shares, a drop of 28.3% from the March 31st total of 2,120,000 shares. Based on an average daily volume of 553,500 shares, the days-to-cover ratio is presently 2.7 days.

Shares of IEA stock traded down $0.27 during trading hours on Monday, reaching $9.08. The company had a trading volume of 6,697 shares, compared to its average volume of 525,013. The business has a fifty day moving average price of $11.89 and a 200-day moving average price of $10.71. Infrastructure and Energy Alternatives has a one year low of $7.57 and a one year high of $14.45. The firm has a market cap of $436.09 million, a PE ratio of -2.66 and a beta of 1.45. The company has a debt-to-equity ratio of 8.61, a quick ratio of 1.35 and a current ratio of 1.35.

Hedge funds have recently made changes to their positions in the company. First Quadrant LLC CA bought a new stake in shares of Infrastructure and Energy Alternatives in the first quarter worth approximately $36,000. Citigroup Inc. grew its stake in shares of Infrastructure and Energy Alternatives by 290.1% in the third quarter. Citigroup Inc. now owns 3,878 shares of the company’s stock worth $44,000 after acquiring an additional 2,884 shares during the period. BNP Paribas Arbitrage SA grew its position in Infrastructure and Energy Alternatives by 747.8% during the third quarter. BNP Paribas Arbitrage SA now owns 6,825 shares of the company’s stock valued at $78,000 after buying an additional 6,020 shares during the period. Acadian Asset Management LLC bought a new stake in Infrastructure and Energy Alternatives during the fourth quarter valued at approximately $68,000. Finally, Metropolitan Life Insurance Co NY bought a new stake in Infrastructure and Energy Alternatives during the third quarter valued at approximately $85,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

IEA has been the subject of a number of analyst reports. Sidoti initiated coverage on shares of Infrastructure and Energy Alternatives in a research note on Friday, March 18th. They set a “buy” rating and a $17.00 price objective for the company. Zacks Investment Research lowered shares of Infrastructure and Energy Alternatives from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 15th.

Infrastructure and Energy Alternatives Company Profile (Get Rating)

Infrastructure and Energy Alternatives, Inc, through its subsidiaries, operates as a diversified infrastructure construction company in the United States. The company engages in providing engineering, procurement, and construction (EPC) services for the renewable energy, traditional power, and civil infrastructure industries.

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