The Shyft Group, Inc. (NASDAQ:SHYF) Sees Significant Increase in Short Interest

The Shyft Group, Inc. (NASDAQ:SHYF) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 448,100 shares, an increase of 23.6% from the March 15th total of 362,600 shares. Based on an average daily volume of 254,000 shares, the days-to-cover ratio is presently 1.8 days. Approximately 1.4% of the shares of the company are sold short.

The Shyft Group Price Performance

NASDAQ:SHYF opened at $7.13 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.82 and a quick ratio of 1.16. The stock has a market cap of $249.07 million, a P/E ratio of -79.21 and a beta of 1.83. The company has a fifty day moving average price of $9.21 and a 200 day moving average price of $11.38. The Shyft Group has a one year low of $6.90 and a one year high of $17.56.

The Shyft Group (NASDAQ:SHYF) last released its earnings results on Thursday, February 20th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.09). The Shyft Group had a negative net margin of 0.36% and a positive return on equity of 2.75%. The company had revenue of $201.43 million during the quarter, compared to the consensus estimate of $211.90 million. Analysts anticipate that The Shyft Group will post 0.68 earnings per share for the current year.

The Shyft Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.20 dividend on an annualized basis and a yield of 2.81%. The Shyft Group’s dividend payout ratio is currently -222.22%.

Institutional Investors Weigh In On The Shyft Group

Several institutional investors and hedge funds have recently bought and sold shares of SHYF. Murphy & Mullick Capital Management Corp acquired a new stake in shares of The Shyft Group during the 4th quarter valued at about $41,000. Quantbot Technologies LP acquired a new stake in The Shyft Group during the fourth quarter valued at approximately $48,000. Tower Research Capital LLC TRC grew its stake in shares of The Shyft Group by 77.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,403 shares of the company’s stock valued at $52,000 after purchasing an additional 1,919 shares during the period. Quarry LP raised its holdings in shares of The Shyft Group by 317.7% in the 4th quarter. Quarry LP now owns 6,081 shares of the company’s stock worth $71,000 after buying an additional 4,625 shares in the last quarter. Finally, FMR LLC lifted its position in shares of The Shyft Group by 301.4% during the 3rd quarter. FMR LLC now owns 7,726 shares of the company’s stock worth $97,000 after buying an additional 5,801 shares during the period. Institutional investors own 85.84% of the company’s stock.

Analyst Ratings Changes

Separately, DA Davidson upgraded shares of The Shyft Group from a “neutral” rating to a “buy” rating and set a $15.00 price target for the company in a report on Wednesday, January 15th.

About The Shyft Group

The Shyft Group, Inc engages in the manufacture and assembly of specialty vehicles for the commercial and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment offers commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.