Arrow Electronics, Inc. (NYSE:ARW) Short Interest Update

Arrow Electronics, Inc. (NYSE:ARW) saw a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 2,350,000 shares, a drop of 6.0% from the November 15th total of 2,500,000 shares. Approximately 4.5% of the shares of the company are sold short. Based on an average daily trading volume, of 397,300 shares, the short-interest ratio is presently 5.9 days.

Arrow Electronics Trading Down 1.1 %

Shares of NYSE:ARW opened at $117.92 on Wednesday. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of 13.16 and a beta of 1.26. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.46. The stock’s 50-day simple moving average is $124.35 and its two-hundred day simple moving average is $126.30. Arrow Electronics has a 52-week low of $108.51 and a 52-week high of $137.80.

Arrow Electronics (NYSE:ARW) last announced its earnings results on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.15. The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.73 billion. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The business’s revenue for the quarter was down 14.8% on a year-over-year basis. During the same period last year, the firm posted $4.14 earnings per share. Analysts expect that Arrow Electronics will post 10.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ARW shares. Raymond James dropped their price objective on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Truist Financial dropped their price objective on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday, November 1st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. True Wealth Design LLC purchased a new position in Arrow Electronics in the third quarter worth about $31,000. Brooklyn Investment Group purchased a new position in Arrow Electronics in the third quarter worth about $40,000. Capital Performance Advisors LLP bought a new position in shares of Arrow Electronics in the third quarter worth about $73,000. DekaBank Deutsche Girozentrale bought a new position in shares of Arrow Electronics in the third quarter worth about $78,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Arrow Electronics in the third quarter worth about $88,000. 99.34% of the stock is owned by hedge funds and other institutional investors.

Arrow Electronics Company Profile

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.