IES Holdings, Inc. (NASDAQ:IESC) Sees Significant Increase in Short Interest

IES Holdings, Inc. (NASDAQ:IESC) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 1,225,405 shares, an increase of 81.2% from the August 15th total of 676,146 shares. Based on an average daily volume of 263,361 shares, the short-interest ratio is presently 4.7 days. Approximately 7.1% of the company’s shares are sold short.

IES Price Performance

Shares of IES stock traded up $13.61 during trading on Wednesday, hitting $325.02. 227,820 shares of the company’s stock traded hands, compared to its average volume of 429,951. IES has a 1 year low of $170.07 and a 1 year high of $408.26. The business has a 50-day simple moving average of $242.36 and a 200-day simple moving average of $182.23. The stock has a market capitalization of $12.95 billion, a P/E ratio of 28.88 and a beta of 1.78.

IES (NASDAQ:IESC) last issued its earnings results on Friday, July 31st. The technology company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.47. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.08 billion. IES had a return on equity of 35.70% and a net margin of 11.40%.

Wall Street Analyst Weigh In

Several research firms have weighed in on IESC. Weiss Ratings cut IES from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, September 1st. Wall Street Zen downgraded shares of IES from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Freedom Broker raised IES from a “hold” rating to a “buy” rating and set a $440.00 price objective for the company in a research report on Friday, September 11th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $277.25.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in IESC. Sequoia Financial Advisors LLC purchased a new position in shares of IES in the 2nd quarter worth $319,000. Integrated Wealth Concepts LLC purchased a new stake in IES in the second quarter worth about $161,000. NewEdge Advisors LLC bought a new position in shares of IES in the second quarter worth about $1,191,000. Nykredit A S bought a new position in shares of IES in the second quarter worth about $243,000. Finally, HighTower Advisors LLC lifted its holdings in IES by 137.4% during the second quarter. HighTower Advisors LLC now owns 1,301 shares of the technology company’s stock valued at $956,000 after purchasing an additional 753 shares in the last quarter. 86.60% of the stock is owned by hedge funds and other institutional investors.

About IES

IES Holdings, Inc (NASDAQ: IESC) is an industrial technology and infrastructure services company that designs, manufactures and installs electrical and mechanical systems. The company serves customers across the data center, industrial, commercial, residential and communications markets.

Its businesses provide electrical contracting, power distribution and control systems, communications infrastructure, structured cabling and related installation services. IES also manufactures and integrates modular and engineered systems used in data centers and other mission-critical facilities, while its residential operations support electrical and other building-system needs for housing construction.

Founded in 1997, IES Holdings serves customers primarily in the United States through operating companies and facilities located across multiple regions.