FLIR Systems, Inc. (NASDAQ:FLIR) Short Interest Down 38.6% in December


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FLIR Systems, Inc. (NASDAQ:FLIR) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 2,080,000 shares, a drop of 38.6% from the December 15th total of 3,390,000 shares. Based on an average daily volume of 1,470,000 shares, the short-interest ratio is currently 1.4 days. Approximately 1.6% of the shares of the company are short sold.

FLIR stock traded up $0.29 during trading on Thursday, hitting $54.32. The company had a trading volume of 13,438 shares, compared to its average volume of 7,207,383. The company has a quick ratio of 1.55, a current ratio of 2.52 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average price of $44.12 and a 200-day moving average price of $39.20. FLIR Systems has a 1-year low of $23.85 and a 1-year high of $59.44. The firm has a market cap of $7.12 billion, a PE ratio of 51.46 and a beta of 1.51.

FLIR Systems (NASDAQ:FLIR) last posted its earnings results on Friday, October 30th. The scientific and technical instruments company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.09. The firm had revenue of $466.40 million for the quarter, compared to analyst estimates of $469.05 million. FLIR Systems had a return on equity of 16.85% and a net margin of 7.36%. FLIR Systems’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 EPS. Sell-side analysts anticipate that FLIR Systems will post 2.33 earnings per share for the current year.

Several research analysts have recently commented on the company. Truist boosted their price objective on FLIR Systems from $40.00 to $56.00 in a report on Tuesday, January 5th. William Blair lowered FLIR Systems from an “outperform” rating to a “market perform” rating in a research report on Monday, January 4th. Needham & Company LLC downgraded FLIR Systems from a “buy” rating to a “hold” rating in a report on Tuesday, January 5th. Berenberg Bank cut FLIR Systems from a “buy” rating to a “hold” rating in a research report on Thursday, January 7th. Finally, Raymond James cut FLIR Systems from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, January 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $51.11.

In related news, Director Earl R. Lewis sold 30,000 shares of FLIR Systems stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $35.93, for a total transaction of $1,077,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.58% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Morgan Stanley increased its position in FLIR Systems by 22.9% during the 3rd quarter. Morgan Stanley now owns 802,402 shares of the scientific and technical instruments company’s stock valued at $28,766,000 after purchasing an additional 149,296 shares during the period. Thrivent Financial for Lutherans boosted its stake in FLIR Systems by 50.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 23,274 shares of the scientific and technical instruments company’s stock worth $834,000 after purchasing an additional 7,793 shares in the last quarter. Running Oak Capital LLC raised its position in FLIR Systems by 29.9% in the 3rd quarter. Running Oak Capital LLC now owns 123,833 shares of the scientific and technical instruments company’s stock valued at $4,439,000 after purchasing an additional 28,499 shares in the last quarter. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of FLIR Systems during the fourth quarter valued at approximately $9,047,000. Finally, Kopion Asset Management LLC increased its stake in FLIR Systems by 50.2% in the 4th quarter. Kopion Asset Management LLC now owns 171,514 shares of the scientific and technical instruments company’s stock worth $7,517,000 after buying an additional 57,358 shares in the last quarter. 86.18% of the stock is currently owned by institutional investors and hedge funds.

FLIR Systems Company Profile

FLIR Systems, Inc designs, develops, markets, and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems, and threat-detection solutions worldwide. The company operates in three segments: Industrial Business Unit, Government and Defense Business Unit, and Commercial Business Unit.

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