Sterling Construction Company, Inc. (NASDAQ:STRL) Short Interest Down 16.4% in May

Sterling Construction Company, Inc. (NASDAQ:STRLGet Rating) was the target of a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 453,900 shares, a drop of 16.4% from the April 30th total of 542,900 shares. Based on an average daily volume of 169,900 shares, the short-interest ratio is presently 2.7 days.

A number of hedge funds and other institutional investors have recently modified their holdings of STRL. Harbour Investments Inc. raised its position in shares of Sterling Construction by 238.7% during the 4th quarter. Harbour Investments Inc. now owns 1,016 shares of the construction company’s stock worth $27,000 after purchasing an additional 716 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Sterling Construction during the 1st quarter worth approximately $38,000. Dorsey Wright & Associates purchased a new stake in shares of Sterling Construction during the fourth quarter worth approximately $53,000. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Sterling Construction by 23.4% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,097 shares of the construction company’s stock worth $55,000 after purchasing an additional 397 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new position in Sterling Construction during the 1st quarter valued at about $85,000. Hedge funds and other institutional investors own 79.00% of the company’s stock.

STRL has been the topic of several recent research reports. Zacks Investment Research raised shares of Sterling Construction from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Saturday, May 14th. StockNews.com started coverage on Sterling Construction in a research report on Thursday, March 31st. They set a “buy” rating on the stock.

Shares of NASDAQ:STRL opened at $24.61 on Wednesday. The stock has a market cap of $744.70 million, a P/E ratio of 10.17 and a beta of 1.23. The company has a 50 day moving average of $24.90 and a 200 day moving average of $26.66. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.11. Sterling Construction has a 12 month low of $20.17 and a 12 month high of $32.14.

Sterling Construction (NASDAQ:STRLGet Rating) last announced its quarterly earnings data on Monday, May 2nd. The construction company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.42 by $0.22. Sterling Construction had a net margin of 4.25% and a return on equity of 20.99%. The company had revenue of $410.32 million for the quarter, compared to the consensus estimate of $371.80 million. During the same period in the prior year, the firm posted $0.37 EPS. On average, equities analysts forecast that Sterling Construction will post 2.88 earnings per share for the current fiscal year.

Sterling Construction Company Profile (Get Rating)

Sterling Construction Company, Inc engages in the transportation, e-infrastructure, and building solutions primarily in the Southern United States, the Northeastern and Mid-Atlantic United States, the Rocky Mountain states, California, and Hawaii. It undertakes infrastructure and rehabilitation projects for highways, roads, bridges, airports, ports, light rail, water, wastewater, and storm drainage systems for the departments of transportation in various states, regional transit authorities, airport authorities, port authorities, water authorities and railroads.

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