Raven Industries, Inc. (NASDAQ: RAVN) Sees Significant Short-Term Interest Growth
Raven Industries, Inc. (NASDAQ: RAVN) benefited from a sharp increase in short-term interest during the month of June. As of June 30, there was short interest totaling 743,200 shares, an increase of 27.1% from the total of 584,800 shares as of June 15. About 2.1% of the company’s shares are sold short. Based on an average daily volume of 495,100 shares, the day / hedge ratio is currently 1.5 days.
A number of equity analysts have recently weighed on RAVN stocks. Lake Street Capital downgraded Raven Industries’ stock rating from a “buy” rating to a “keep” rating and raised its target price for the stock from $ 55 to $ 58.00 in a report published on Tuesday, June 22. Zacks investment research raised Raven Industries shares from a âkeepâ rating to a âbuyâ rating and set a target price of $ 65.00 for the company in a research report released on Tuesday, June 29. TheStreet downgraded Raven Industries shares from a âb-â rating to a âcâ rating in a research note on Monday, March 22. Finally, CJS Securities downgraded Raven Industries from an “outperformance” rating to a “market performance” rating in a Thursday, June 24th research note. Two equity research analysts rated the stock with a conservation rating and two gave the stock a buy rating. The company has a consensus rating of “Buy” and a consensus price target of $ 52.67.
Several large investors have recently bought and sold shares of RAVN. First PREMIER Bank increased its holdings in shares of Raven Industries by 32.7% in the second quarter. First PREMIER Bank now owns 113,600 shares of the conglomerate valued at $ 6,572,000 after acquiring 28,000 additional shares during the period. Havens Advisors LLC purchased a new stake in Raven Industries during the second quarter for a value of approximately $ 579,000. Sound Income Strategies LLC purchased a new position in Raven Industries in the second quarter valued at approximately $ 44,000. The Alaska State Department of Revenue increased its stake in Raven Industries by 2.5% in the second quarter. The Alaska State Department of Revenue now owns 24,855 shares of the conglomerate valued at $ 1,437,000 after purchasing an additional 595 shares in the last quarter. Finally, Millennium Management LLC purchased a new equity interest in Raven Industries during the first quarter for a value of approximately $ 2,074,000. Hedge funds and other institutional investors own 80.75% of the company’s shares.
NASDAQ RAVN open for $ 57.17 Monday. The company has a debt ratio of 0.01, a rapid ratio of 1.56 and a current ratio of 2.61. The stock has a market cap of $ 2.05 billion, a P / E ratio of 67.26, a PEG ratio of 3.53 and a beta of 1.53. Raven Industries has a 52 week low of $ 20.83 and a 52 week high of $ 58.58. The company’s 50-day simple moving average is $ 48.84.
Raven Industries (NASDAQ: RAVN) last released its quarterly results on Monday, May 17. The conglomerate reported earnings per share (EPS) of $ 0.26 for the quarter, beating the consensus estimate of $ 0.14 by $ 0.12. The company posted revenue of $ 112.49 million for the quarter, compared to analysts’ estimates of $ 98.70 million. Raven Industries had a net margin of 6.53% and a return on equity of 9.37%. As a group, equity research analysts expect Raven Industries to post 0.81 EPS for the current fiscal year.
Raven Industries Company Profile
Raven Industries, Inc., a technology company, supplies a variety of products to customers in the industrial, agricultural, geomembrane, construction, aerospace and defense, and lighter-than-air commercial markets around the world. It operates through three segments: Applied Technology, Engineered Films and Aerostar.
Further Reading: Why Should Analysts Give Stocks a Buy Rating?
This instant news alert was powered by storytelling technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [emailÂ protected]
Featured article: What does a neutral equity rating mean?
7 actions that can help you take advantage of summer shortages
One of the lingering impacts of the Covid-19 pandemic is supply chain disruptions that continue to disrupt many industries. Right now, every investor is aware of the global chip shortage that is disrupting many industries that are expected to experience strong growth in 2021.
But many other sectors are affected by supply chain disruptions. And it affects everything from big ticket items like cars to everyday items like pet food and even bacon.
This special presentation focuses on seven companies that are expected to benefit from the current supply chain disruption. All of these companies saw strong gains in 2020. Some of them weakened in 2021, but that was before the full extent of supply chain weakness was discovered.
As the economy reopens, the shortage of items is expected to continue and become much more noticeable. When they do, many of these stocks can be overstated. That’s why now is the time to take these actions that can help make the supply chain work in your favor.
Check out the “7 Actions That Can Help You Take Advantage of Summer Shortages.”