Hennessy Advisors, Inc. (NASDAQ:HNNA) Short Interest Down 40.6% in January

Hennessy Advisors, Inc. (NASDAQ:HNNA) was the recipient of a significant decrease in short interest in January. As of January 15th, there was short interest totaling 5,595 shares, a decrease of 40.6% from the December 31st total of 9,413 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 23,687 shares, the short-interest ratio is currently 0.2 days. Based on an average daily trading volume, of 23,687 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the shares of the stock are short sold.

Hennessy Advisors Stock Down 1.1%

HNNA stock traded down $0.11 during mid-day trading on Friday, reaching $10.24. 28,957 shares of the company traded hands, compared to its average volume of 18,323. The firm’s 50 day moving average price is $9.94 and its 200 day moving average price is $10.62. Hennessy Advisors has a fifty-two week low of $8.43 and a fifty-two week high of $13.19. The stock has a market cap of $80.79 million, a price-to-earnings ratio of 8.21 and a beta of 0.64. The company has a quick ratio of 12.72, a current ratio of 12.73 and a debt-to-equity ratio of 0.41.

Institutional Trading of Hennessy Advisors

A number of institutional investors have recently modified their holdings of HNNA. Geode Capital Management LLC grew its position in Hennessy Advisors by 2.0% during the second quarter. Geode Capital Management LLC now owns 51,894 shares of the asset manager’s stock worth $654,000 after buying an additional 1,014 shares in the last quarter. Truffle Hound Capital LLC purchased a new stake in Hennessy Advisors during the second quarter valued at about $556,000. Bridgeway Capital Management LLC boosted its holdings in Hennessy Advisors by 6.7% during the 2nd quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager’s stock valued at $215,000 after acquiring an additional 1,072 shares during the period. Evergreen Capital Management LLC bought a new position in shares of Hennessy Advisors in the second quarter worth approximately $190,000. Finally, Redhawk Wealth Advisors Inc. grew its holdings in Hennessy Advisors by 9.8% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 75,314 shares of the asset manager’s stock worth $791,000 after acquiring an additional 6,714 shares during the last quarter. 10.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Hennessy Advisors in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Hennessy Advisors has an average rating of “Hold”.

About Hennessy Advisors

Hennessy Advisors, Inc is an investment advisory firm specializing in the management of closed-end and open-end funds, as well as separate account strategies. Serving as the investment adviser to a family of publicly traded closed-end funds and a series of mutual funds, the company focuses on generating income and total return for its shareholders by deploying a range of equity and fixed-income strategies. Hennessy Advisors is registered with the U.S. Securities and Exchange Commission and operates under the Investment Advisers Act of 1940.

The firm’s product lineup includes multiple closed-end funds that invest in U.S.