EVI Industries, Inc. (NYSEAMERICAN:EVI) Sees Significant Decline in Short Interest

EVI Industries, Inc. (NYSEAMERICAN:EVI) was the recipient of a large drop in short interest in August. As of August 15th, there was short interest totalling 259,300 shares, a drop of 5.0% from the July 31st total of 273,000 shares. Currently, 5.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 29,800 shares, the days-to-cover ratio is currently 8.7 days.

EVI Industries Price Performance

EVI opened at $26.36 on Thursday. The company has a market capitalization of $331.35 million, a price-to-earnings ratio of 40.55 and a beta of 0.38. EVI Industries has a 1-year low of $11.56 and a 1-year high of $28.49. The stock has a 50 day moving average price of $19.94. The company has a current ratio of 1.63, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30.

Hedge Funds Weigh In On EVI Industries

Several institutional investors have recently bought and sold shares of EVI. Barclays PLC bought a new stake in shares of EVI Industries in the 4th quarter valued at about $29,000. US Bancorp DE boosted its position in shares of EVI Industries by 214.3% during the 1st quarter. US Bancorp DE now owns 1,320 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 900 shares during the last quarter. California State Teachers Retirement System purchased a new stake in EVI Industries in the 2nd quarter valued at about $35,000. BNP Paribas Arbitrage SNC raised its holdings in EVI Industries by 68,233.3% in the 2nd quarter. BNP Paribas Arbitrage SNC now owns 2,050 shares of the industrial products company’s stock valued at $45,000 after buying an additional 2,047 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in EVI Industries during the second quarter worth about $46,000. Institutional investors own 36.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of EVI Industries in a research report on Wednesday, August 23rd. They issued a “hold” rating on the stock.

About EVI Industries

EVI Industries, Inc, through its subsidiaries, distributes, sells, rents, and leases commercial and industrial laundry and dry-cleaning equipment, and steam and hot water boilers in the United States, Canada, the Caribbean, and Latin America. The company sells and/or leases commercial laundry equipment specializing in washing, drying, finishing, material handling, water heating, power generation, and water reuse applications.