Proto Labs, Inc. (NYSE:PRLB) Short Interest Down 14.2% in June

Proto Labs, Inc. (NYSE:PRLB) was the target of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totalling 449,400 shares, a decrease of 14.2% from the June 15th total of 524,000 shares. Based on an average daily trading volume, of 147,900 shares, the short-interest ratio is presently 3.0 days. Currently, 1.8% of the shares of the company are sold short.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Diversified Trust Co purchased a new stake in shares of Proto Labs in the fourth quarter valued at $286,000. Nordea Investment Management AB boosted its position in Proto Labs by 14.0% during the fourth quarter. Nordea Investment Management AB now owns 168,464 shares of the industrial products company’s stock worth $6,575,000 after acquiring an additional 20,721 shares during the last quarter. SG Americas Securities LLC grew its stake in Proto Labs by 39.8% in the 4th quarter. SG Americas Securities LLC now owns 21,317 shares of the industrial products company’s stock worth $831,000 after acquiring an additional 6,064 shares during the period. Arizona State Retirement System purchased a new position in shares of Proto Labs during the 4th quarter worth $284,000. Finally, International Assets Investment Management LLC grew its position in shares of Proto Labs by 3,795.7% in the fourth quarter. International Assets Investment Management LLC now owns 896 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 873 shares during the period. 84.54% of the stock is owned by hedge funds and other institutional investors.

Proto Labs Stock Up 1.2 %

Shares of PRLB traded up $0.37 on Monday, reaching $32.41. The stock had a trading volume of 34,314 shares, compared to its average volume of 156,741. Proto Labs has a twelve month low of $23.01 and a twelve month high of $41.87. The firm has a market capitalization of $820.62 million, a PE ratio of 42.03 and a beta of 1.33. The firm has a 50-day moving average of $31.11 and a 200 day moving average of $33.75.

Proto Labs (NYSE:PRLB) last posted its earnings results on Friday, May 3rd. The industrial products company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.07. The company had revenue of $127.89 million for the quarter, compared to analyst estimates of $123.81 million. Proto Labs had a return on equity of 2.88% and a net margin of 3.92%. On average, sell-side analysts anticipate that Proto Labs will post 0.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Benchmark reaffirmed a “buy” rating and set a $45.00 price objective on shares of Proto Labs in a research report on Wednesday, May 29th. Cantor Fitzgerald assumed coverage on shares of Proto Labs in a research note on Wednesday, June 5th. They issued an “overweight” rating and a $44.00 price objective on the stock. Craig Hallum lowered their target price on shares of Proto Labs from $38.00 to $34.00 and set a “hold” rating on the stock in a report on Monday, May 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of Proto Labs in a research report on Monday, May 6th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $41.25.

About Proto Labs

Proto Labs, Inc, together with its subsidiaries, operates as a digital manufacturer of custom parts in the United States and Europe. The company offers injection molding; computer numerical control machining; three-dimensional printing; and sheet metal fabrication products. It serves developers and engineers, who use 3D computer-aided design software to design products across a range of end-markets.