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

The Shyft Group, Inc. (NASDAQ:SHYF) was the recipient of a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 331,800 shares, a drop of 25.7% from the January 15th total of 446,500 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily volume of 226,300 shares, the short-interest ratio is currently 1.5 days.

Analysts Set New Price Targets

SHYF has been the topic of several recent analyst reports. Roth Mkm restated a “buy” rating and set a $16.00 price objective on shares of The Shyft Group in a research report on Tuesday, December 17th. DA Davidson raised shares of The Shyft Group from a “neutral” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Wednesday, January 15th.

The Shyft Group Price Performance

Shares of NASDAQ:SHYF traded up $0.11 on Friday, reaching $11.99. The company’s stock had a trading volume of 9,533 shares, compared to its average volume of 184,578. The Shyft Group has a 52-week low of $9.81 and a 52-week high of $17.56. The company has a market cap of $413.36 million, a P/E ratio of -99.67 and a beta of 1.66. The company has a 50-day simple moving average of $11.94 and a 200 day simple moving average of $12.82. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.16 and a current ratio of 1.82.

Hedge Funds Weigh In On The Shyft Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Murphy & Mullick Capital Management Corp purchased a new position in shares of The Shyft Group in the 4th quarter worth $41,000. Quantbot Technologies LP purchased a new position in shares of The Shyft Group during the 4th quarter worth about $48,000. Tower Research Capital LLC TRC boosted its stake in shares of The Shyft Group by 77.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,403 shares of the company’s stock worth $52,000 after purchasing an additional 1,919 shares during the period. FMR LLC boosted its stake in shares of 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 purchasing an additional 5,801 shares during the period. Finally, Zacks Investment Management purchased a new position in shares of The Shyft Group during the 4th quarter worth about $138,000. 85.84% of the stock is owned by hedge funds and other 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.