Johnson Outdoors Inc. (NASDAQ:JOUT) Sees Significant Decline in Short Interest

Johnson Outdoors Inc. (NASDAQ:JOUT) was the target of a significant decline in short interest in the month of August. As of August 15th, there was short interest totalling 508,500 shares, a decline of 6.9% from the July 31st total of 546,400 shares. Approximately 6.1% of the company’s shares are short sold. Based on an average daily trading volume, of 61,100 shares, the short-interest ratio is presently 8.3 days.

Institutional Trading of Johnson Outdoors

Hedge funds and other institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC acquired a new position in shares of Johnson Outdoors in the first quarter worth $101,000. EntryPoint Capital LLC acquired a new position in shares of Johnson Outdoors in the first quarter worth $136,000. BNP Paribas Financial Markets grew its stake in shares of Johnson Outdoors by 47.9% in the first quarter. BNP Paribas Financial Markets now owns 3,175 shares of the company’s stock worth $146,000 after acquiring an additional 1,029 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Johnson Outdoors in the second quarter worth $238,000. Finally, Prosperity Consulting Group LLC acquired a new position in shares of Johnson Outdoors in the first quarter worth $306,000. Institutional investors and hedge funds own 64.05% of the company’s stock.

Johnson Outdoors Trading Up 0.5 %

Shares of JOUT stock opened at $36.12 on Wednesday. The business’s fifty day simple moving average is $36.68 and its 200-day simple moving average is $39.24. The company has a market cap of $372.07 million, a PE ratio of 76.85, a PEG ratio of 36.68 and a beta of 0.74. Johnson Outdoors has a 12-month low of $32.79 and a 12-month high of $55.88.

Johnson Outdoors (NASDAQ:JOUT) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). Johnson Outdoors had a negative return on equity of 1.65% and a negative net margin of 1.42%. The firm had revenue of $172.47 million during the quarter, compared to analyst estimates of $176.14 million. During the same quarter last year, the company posted $1.44 EPS. On average, equities analysts forecast that Johnson Outdoors will post 0.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Johnson Outdoors from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th.

Johnson Outdoors Company Profile

Johnson Outdoors Inc designs, manufactures, and markets seasonal and outdoor recreational products for fishing worldwide. It operates through four segments: Fishing, Camping, Watercraft Recreation, and Diving. The Fishing segment offers electric motors for trolling, marine battery chargers, and shallow water anchors; sonar and GPS equipment for fish finding, navigation, and marine cartography; and downriggers for controlled-depth fishing.