Art’s-Way Manufacturing Co., Inc. (NASDAQ:ARTW) Shares Shorted: Short Interest Down 38.7% in October

Art’s-Way Manufacturing Co., Inc. (NASDAQ:ARTW – Get Free Report) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 36,667 shares, a decline of 38.7% from the September 30th total of 59,792 shares. Based on an average daily volume of 14,726 shares, the short-interest ratio is presently 2.5 days. Approximately 1.5% of the shares of the company are short sold.

Institutional Investors Weigh In On Art’s-Way Manufacturing

A number of institutional investors and hedge funds have recently modified their holdings of ARTW. Susquehanna International Group LLP raised its position in shares of Art’s-Way Manufacturing by 69.7% during the 2nd quarter. Susquehanna International Group LLP now owns 19,664 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 8,079 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Art’s-Way Manufacturing by 9.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 44,679 shares of the industrial products company’s stock worth $93,000 after purchasing an additional 3,899 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Art’s-Way Manufacturing by 13.7% during the first quarter. Renaissance Technologies LLC now owns 141,474 shares of the industrial products company’s stock worth $296,000 after acquiring an additional 17,000 shares in the last quarter. 2.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Art’s-Way Manufacturing from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Art’s-Way Manufacturing presently has an average rating of “Sell”.

Read Our Latest Stock Analysis on ARTW

Art’s-Way Manufacturing Stock Performance

NASDAQ ARTW opened at $2.96 on Tuesday. The company has a 50 day moving average of $3.10 and a 200-day moving average of $2.64. The company has a quick ratio of 0.57, a current ratio of 1.71 and a debt-to-equity ratio of 0.17. Art’s-Way Manufacturing has a 1-year low of $2.05 and a 1-year high of $4.17.

Art’s-Way Manufacturing (NASDAQ:ARTW – Get Free Report) last posted its quarterly earnings data on Tuesday, October 13th. The industrial products company reported ($0.03) EPS for the quarter. The business had revenue of $5.62 million during the quarter. Art’s-Way Manufacturing had a negative return on equity of 3.06% and a negative net margin of 1.65%.

About Art’s-Way Manufacturing

(Get Free Report)

Art’s-Way Manufacturing Co, Inc (NASDAQ:ARTW) designs and manufactures agricultural and rural-use equipment. The company’s product portfolio includes machinery for forage harvesting, manure handling, hay production, tillage, land maintenance, snow removal and grain handling, serving farmers, agricultural contractors and other rural customers.

Its equipment is marketed under the Art’s-Way brand and is distributed primarily through a network of agricultural equipment dealers. The company serves customers in the United States and Canada, with products also reaching selected international markets through its distribution channels.

Founded in 1956 and headquartered in Armstrong, Iowa, Art’s-Way has developed from a regional agricultural equipment manufacturer into a publicly traded company with a broader lineup of farm and specialty machinery.

Further Reading

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