Taylor Devices, Inc. (NASDAQ:TAYD) Short Interest Up 149.5% in July

Taylor Devices, Inc. (NASDAQ:TAYD) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 122,000 shares, a growth of 149.5% from the June 30th total of 48,900 shares. Based on an average daily volume of 29,000 shares, the days-to-cover ratio is currently 4.2 days. Currently, 4.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Taylor Devices from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 17th.

Taylor Devices Stock Performance

TAYD stock opened at $49.11 on Friday. The stock has a fifty day moving average of $46.34 and a 200-day moving average of $43.27. Taylor Devices has a fifty-two week low of $18.06 and a fifty-two week high of $61.69. The company has a market capitalization of $172.87 million, a price-to-earnings ratio of 19.72 and a beta of 1.03.

Institutional Investors Weigh In On Taylor Devices

Several institutional investors have recently added to or reduced their stakes in the business. National Wealth Management Group LLC bought a new stake in shares of Taylor Devices in the first quarter valued at approximately $590,000. O Shaughnessy Asset Management LLC purchased a new position in Taylor Devices in the 1st quarter valued at approximately $488,000. Elkhorn Partners Limited Partnership raised its holdings in Taylor Devices by 47.2% during the 1st quarter. Elkhorn Partners Limited Partnership now owns 26,205 shares of the industrial products company’s stock valued at $1,304,000 after acquiring an additional 8,405 shares during the period. Johnson Bixby & Associates LLC bought a new stake in Taylor Devices during the 1st quarter valued at $373,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Taylor Devices during the second quarter worth $286,000. 17.62% of the stock is owned by hedge funds and other institutional investors.

Taylor Devices Company Profile

Taylor Devices, Inc engages in design, development, manufacture, and marketing of shock absorption, rate control, and energy storage devices for use in machinery, equipment, and structures in the United States, Asia, and internationally. Its products include seismic dampers that are designed to mitigate the effects of earthquakes on structures; Fluidicshoks, which are compact shock absorbers primarily used in defense, aerospace, and commercial industries; and crane and industrial buffers, which are larger versions of the Fluidicshoks for industrial application on cranes and crane trolleys, truck docks, ladle and ingot cars, ore trolleys, and train car stops.