GMR Solutions Inc. (NYSE:GMRS) Sees Large Growth in Short Interest

GMR Solutions Inc. (NYSE:GMRS – Get Free Report) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 1,560,500 shares, a growth of 115.0% from the June 15th total of 725,948 shares. Based on an average trading volume of 1,145,786 shares, the days-to-cover ratio is presently 1.4 days. Currently, 2.9% of the company’s stock are sold short.

Analyst Ratings Changes

Several research analysts have weighed in on GMRS shares. Zacks Research raised shares of GMR Solutions to a “hold” rating in a report on Tuesday, June 9th. Evercore upgraded shares of GMR Solutions to a “strong-buy” rating and set a $20.00 target price on the stock in a research note on Monday, June 8th. Citigroup initiated coverage on shares of GMR Solutions in a research report on Sunday, June 7th. They set a “buy” rating and a $17.00 price target on the stock. UBS Group assumed coverage on GMR Solutions in a research note on Monday, June 8th. They issued a “buy” rating and a $20.00 price target for the company. Finally, Needham & Company LLC set a $18.00 price objective on GMR Solutions in a report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.22.

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GMR Solutions Stock Down 3.6%

GMRS stock traded down $0.51 during trading on Thursday, hitting $13.49. 407,973 shares of the company’s stock traded hands, compared to its average volume of 990,244. The stock has a market cap of $728.62 million and a PE ratio of 48.18. GMR Solutions has a 52 week low of $10.26 and a 52 week high of $15.98. The firm’s fifty day moving average price is $13.10.

GMR Solutions (NYSE:GMRS – Get Free Report) last posted its quarterly earnings results on Monday, June 1st. The company reported $0.28 earnings per share (EPS) for the quarter. The business had revenue of $1.46 billion during the quarter.

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