Arrow Electronics, Inc. (NYSE:ARW) Short Interest Up 7.3% in January

Arrow Electronics, Inc. (NYSE:ARW) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 2,950,000 shares, a growth of 7.3% from the December 31st total of 2,750,000 shares. Based on an average daily volume of 409,800 shares, the short-interest ratio is currently 7.2 days. Approximately 5.7% of the company’s stock are short sold.

Institutional Trading of Arrow Electronics

A number of large investors have recently modified their holdings of the company. Creative Planning increased its position in Arrow Electronics by 6.0% in the 2nd quarter. Creative Planning now owns 11,066 shares of the technology company’s stock valued at $1,336,000 after acquiring an additional 630 shares during the period. Truist Financial Corp increased its holdings in shares of Arrow Electronics by 6.8% during the second quarter. Truist Financial Corp now owns 11,028 shares of the technology company’s stock valued at $1,332,000 after purchasing an additional 700 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Arrow Electronics during the second quarter valued at $863,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Arrow Electronics during the second quarter valued at about $7,246,000. Finally, GAMMA Investing LLC lifted its holdings in Arrow Electronics by 24.6% in the third quarter. GAMMA Investing LLC now owns 695 shares of the technology company’s stock worth $92,000 after purchasing an additional 137 shares during the period. Institutional investors and hedge funds own 99.34% of the company’s stock.

Arrow Electronics Price Performance

Shares of NYSE:ARW opened at $113.49 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.39. The firm has a 50-day simple moving average of $116.74 and a 200 day simple moving average of $123.72. Arrow Electronics has a fifty-two week low of $108.51 and a fifty-two week high of $137.80. The company has a market cap of $5.97 billion, a PE ratio of 12.67 and a beta of 1.26.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ARW. Wells Fargo & Company reduced their price target on shares of Arrow Electronics from $105.00 to $100.00 and set an “underweight” rating on the stock in a research report on Monday, January 13th. Raymond James reduced their target price on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Truist Financial lowered their price target on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a report on Friday, November 1st.

About Arrow Electronics

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.