Resideo Technologies, Inc. (NYSE:REZI) Sees Large Decline in Short Interest

Resideo Technologies, Inc. (NYSE:REZIGet Rating) saw a significant decline in short interest in the month of December. As of December 30th, there was short interest totalling 1,590,000 shares, a decline of 19.7% from the December 15th total of 1,980,000 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average trading volume of 760,600 shares, the days-to-cover ratio is currently 2.1 days.

Resideo Technologies Price Performance

Resideo Technologies stock opened at $17.16 on Friday. The stock’s 50 day moving average is $16.59 and its 200 day moving average is $19.43. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.59 and a quick ratio of 0.97. The firm has a market cap of $2.50 billion, a P/E ratio of 8.25 and a beta of 1.94. Resideo Technologies has a one year low of $14.95 and a one year high of $27.07.

Resideo Technologies (NYSE:REZIGet Rating) last issued its quarterly earnings results on Tuesday, November 1st. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.15). Resideo Technologies had a net margin of 4.96% and a return on equity of 13.22%. The business had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.68 billion. As a group, research analysts expect that Resideo Technologies will post 2.01 EPS for the current year.

Analyst Upgrades and Downgrades

REZI has been the topic of a number of recent analyst reports. Imperial Capital lowered Resideo Technologies from an “outperform” rating to an “in-line” rating and set a $27.00 price objective on the stock. in a research note on Wednesday, November 2nd. Morgan Stanley cut their price objective on Resideo Technologies from $26.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Wednesday.

Hedge Funds Weigh In On Resideo Technologies

Several institutional investors have recently added to or reduced their stakes in REZI. KBC Group NV raised its position in shares of Resideo Technologies by 95.9% during the second quarter. KBC Group NV now owns 26,172 shares of the company’s stock worth $508,000 after purchasing an additional 12,811 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Resideo Technologies by 79.9% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,225 shares of the company’s stock worth $1,674,000 after purchasing an additional 38,286 shares during the period. Robeco Schweiz AG raised its position in shares of Resideo Technologies by 8.0% during the second quarter. Robeco Schweiz AG now owns 1,348,000 shares of the company’s stock worth $26,178,000 after purchasing an additional 100,000 shares during the period. Versor Investments LP raised its position in shares of Resideo Technologies by 93.6% during the second quarter. Versor Investments LP now owns 16,911 shares of the company’s stock worth $328,000 after purchasing an additional 8,178 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of Resideo Technologies by 9.2% during the second quarter. State of Alaska Department of Revenue now owns 109,999 shares of the company’s stock worth $2,136,000 after purchasing an additional 9,275 shares during the period. 91.99% of the stock is owned by institutional investors and hedge funds.

Resideo Technologies Company Profile

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Resideo Technologies, Inc develops, manufactures, and sells comfort, residential thermal, and security solutions to the commercial and residential end markets in the United States, Europe, and internationally. The company operates in two segments, Products & Solutions, and ADI Global Distribution.

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