Art’s-Way Manufacturing Co., Inc. (NASDAQ:ARTW) Short Interest Down 69.6% in May

Art’s-Way Manufacturing Co., Inc. (NASDAQ:ARTW) was the recipient of a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 19,000 shares, a drop of 69.6% from the April 30th total of 62,500 shares. Based on an average daily trading volume, of 23,000 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.8% of the shares of the company are sold short.

Institutional Trading of Art’s-Way Manufacturing

An institutional investor recently raised its position in Art’s-Way Manufacturing stock. Geode Capital Management LLC raised its holdings in Art’s-Way Manufacturing Co., Inc. (NASDAQ:ARTW) by 93.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,094 shares of the industrial products company’s stock after buying an additional 13,072 shares during the quarter. Geode Capital Management LLC owned 0.54% of Art’s-Way Manufacturing worth $59,000 at the end of the most recent quarter. 2.91% of the stock is owned by institutional investors and hedge funds.

Art’s-Way Manufacturing Stock Performance

ARTW opened at $1.80 on Friday. The stock’s 50 day moving average price is $1.68 and its two-hundred day moving average price is $1.71. The company has a quick ratio of 0.42, a current ratio of 1.98 and a debt-to-equity ratio of 0.21. Art’s-Way Manufacturing has a 12-month low of $1.33 and a 12-month high of $4.15.

Art’s-Way Manufacturing (NASDAQ:ARTW) last released its earnings results on Wednesday, April 9th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter. The business had revenue of $5.14 million during the quarter. Art’s-Way Manufacturing had a net margin of 1.65% and a negative return on equity of 0.83%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen assumed coverage on Art’s-Way Manufacturing in a report on Wednesday, May 21st. They issued a “hold” rating on the stock.

Art’s-Way Manufacturing Company Profile

Art’s-Way Manufacturing Co, Inc manufactures and distributes farm equipment products. It operates through the Agricultural Products, and Modular Buildings segments. The Agricultural Products segment manufactures a variety of specialized farm machinery under its own label including portable and stationary animal feed processing equipment and related attachments used to mill and mix feed grains into custom animal feed rations, a line of forage equipment consisting of forage boxes, bale processors, running gear, and dump boxes, a line of manure spreaders, sugar beet harvesting equipment, and a line of dirt work equipment.