Art’s-Way Manufacturing Co., Inc. (NASDAQ:ARTW) Shares Shorted: Short Interest Up 100.5% in September

Art’s-Way Manufacturing Co., Inc. (NASDAQ:ARTW) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 60,786 shares, an increase of 100.5% from the August 31st total of 30,323 shares. Based on an average daily trading volume, of 20,661 shares, the days-to-cover ratio is currently 2.9 days. Currently, 2.4% of the company’s shares are sold short.

Hedge Funds Weigh In On Art’s-Way Manufacturing

A number of large investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its holdings in Art’s-Way Manufacturing by 13.7% in the first quarter. Renaissance Technologies LLC now owns 141,474 shares of the industrial products company’s stock worth $296,000 after purchasing an additional 17,000 shares in the last quarter. Susquehanna International Group LLP increased its position in shares of Art’s-Way Manufacturing by 69.7% during the second quarter. Susquehanna International Group LLP now owns 19,664 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 8,079 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted 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 valued at $93,000 after acquiring an additional 3,899 shares in the last quarter. Institutional investors own 2.91% of the company’s stock.

Art’s-Way Manufacturing Price Performance

Shares of Art’s-Way Manufacturing stock traded up $0.07 during trading on Tuesday, hitting $3.21. 2,882 shares of the company’s stock traded hands, compared to its average volume of 208,926. The company has a market cap of $16.71 million, a PE ratio of -321.40 and a beta of 1.02. The firm’s fifty day moving average price is $2.80 and its 200 day moving average price is $2.62. Art’s-Way Manufacturing has a twelve month low of $2.05 and a twelve month high of $4.17. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.17 and a quick ratio of 0.61.

Art’s-Way Manufacturing (NASDAQ:ARTW) last posted its quarterly earnings results on Wednesday, July 15th. The industrial products company reported $0.03 earnings per share (EPS) for the quarter. The business had revenue of $7.85 million for the quarter. Art’s-Way Manufacturing had a negative return on equity of 0.16% and a negative net margin of 0.08%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Art’s-Way Manufacturing from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, September 1st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Art’s-Way Manufacturing Company Profile

Art’s-Way Manufacturing Co, Inc is an Iowa-based manufacturer of agricultural equipment and related products. The company designs and produces machinery used in forage harvesting, manure handling, land maintenance and crop preparation, serving farmers, agricultural contractors and other customers in the farming industry.

Its product portfolio has included forage harvesters, forage boxes, manure spreaders, rotary cutters, hay equipment, tillage and planting equipment, and specialized machinery for certain crop applications.