IKONICS Co. (NASDAQ:IKNX) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 34,900 shares, a growth of 41.9% from the August 15th total of 24,600 shares. Approximately 3.3% of the shares of the company are sold short. Based on an average daily volume of 410,000 shares, the short-interest ratio is currently 0.1 days.
Shares of IKNX stock traded down $0.59 during trading hours on Monday, reaching $26.56. 27,654 shares of the company traded hands, compared to its average volume of 171,378. IKONICS has a 12-month low of $3.25 and a 12-month high of $33.80. The company has a market cap of $52.62 million, a P/E ratio of 387.86 and a beta of 1.05. The firm has a 50-day moving average price of $24.21 and a 200 day moving average price of $15.89.
Separately, TheStreet raised IKONICS from a “d+” rating to a “c-” rating in a research report on Friday, June 25th.
IKONICS Corp. engages in the development, manufacture, and trade of photochemical imaging products. It operates through the following business segments: Chromaline, IKONICS Imaging, Digital Texturing (DTX) and Advanced Material Solutions (AMS). The Chromaline Segment sells screen printing film, emulsions, and inkjet receptive film primarily to distributors and some end users.
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