CPI Aerostructures, Inc. (NYSEAMERICAN:CVU – Get Rating) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 13,100 shares, a decrease of 81.0% from the March 15th total of 68,800 shares. Based on an average daily trading volume, of 70,900 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the company’s shares are sold short.
Shares of CPI Aerostructures stock traded up $0.04 during trading hours on Wednesday, reaching $2.45. 929 shares of the company’s stock were exchanged, compared to its average volume of 68,443. CPI Aerostructures has a fifty-two week low of $2.16 and a fifty-two week high of $4.95. The company has a market cap of $30.25 million, a price-to-earnings ratio of 10.48 and a beta of 1.82.
A number of large investors have recently modified their holdings of CVU. Virtu Financial LLC acquired a new stake in CPI Aerostructures in the 4th quarter valued at about $54,000. BlackRock Inc. lifted its position in CPI Aerostructures by 102.3% during the third quarter. BlackRock Inc. now owns 58,989 shares of the aerospace company’s stock worth $162,000 after acquiring an additional 29,836 shares during the last quarter. Renaissance Technologies LLC lifted its position in CPI Aerostructures by 19.8% during the fourth quarter. Renaissance Technologies LLC now owns 64,100 shares of the aerospace company’s stock worth $175,000 after acquiring an additional 10,600 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. acquired a new stake in CPI Aerostructures during the fourth quarter worth approximately $454,000. Institutional investors and hedge funds own 22.30% of the company’s stock.
CPI Aerostructures, Inc engages in the contract production of structural aircraft parts for fixed wing aircraft and helicopters in the commercial and defense markets. The company also offers aero systems, such as reconnaissance pod structures and fuel panel systems; and supplies parts for maintenance, repair, and overhaul (MRO), as well as kitting contracts.
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