The Shyft Group, Inc. (NASDAQ:SHYF) Sees Large Drop in Short Interest

The Shyft Group, Inc. (NASDAQ:SHYF) saw a significant decrease in short interest in December. As of December 31st, there was short interest totalling 532,200 shares, a decrease of 52.9% from the December 15th total of 1,130,000 shares. Based on an average trading volume of 261,000 shares, the short-interest ratio is presently 2.0 days. Currently, 1.7% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SHYF. DA Davidson reissued a “neutral” rating and set a $15.00 price objective (down previously from $18.00) on shares of The Shyft Group in a research report on Tuesday, December 17th. Roth Mkm reissued a “buy” rating and set a $16.00 price objective on shares of The Shyft Group in a research report on Tuesday, December 17th.

The Shyft Group Stock Performance

The Shyft Group stock traded up $0.12 during midday trading on Tuesday, hitting $10.46. The company’s stock had a trading volume of 124,863 shares, compared to its average volume of 212,508. The Shyft Group has a 1-year low of $9.81 and a 1-year high of $17.56. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.82 and a quick ratio of 1.16. The company has a 50-day moving average price of $12.83 and a two-hundred day moving average price of $12.75. The company has a market cap of $360.81 million, a price-to-earnings ratio of -87.17 and a beta of 1.66.

The Shyft Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 15th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.91%. The ex-dividend date was Friday, November 15th. The Shyft Group’s dividend payout ratio is currently -166.67%.

Institutional Investors Weigh In On The Shyft Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. bought a new stake in The Shyft Group during the 2nd quarter worth approximately $59,000. Point72 DIFC Ltd bought a new stake in The Shyft Group during the 2nd quarter worth approximately $60,000. FMR LLC grew its holdings in The Shyft Group by 301.4% during the 3rd quarter. FMR LLC now owns 7,726 shares of the company’s stock worth $97,000 after acquiring an additional 5,801 shares during the last quarter. Quest Partners LLC grew its holdings in The Shyft Group by 21.2% during the 2nd quarter. Quest Partners LLC now owns 10,098 shares of the company’s stock worth $120,000 after acquiring an additional 1,768 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in The Shyft Group by 1,062.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 18,477 shares of the company’s stock worth $232,000 after acquiring an additional 16,888 shares during the last quarter. 85.84% of the stock is owned by institutional investors.

The Shyft Group Company Profile

The Shyft Group, Inc engages in the manufacture and assembly of specialty vehicles for the commercial and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment offers commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.