ADDvantage Technologies Group, Inc. (NASDAQ:AEY – Get Rating) was the target of a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 134,800 shares, an increase of 170.7% from the May 15th total of 49,800 shares. Approximately 1.6% of the company’s stock are sold short. Based on an average trading volume of 20,700 shares, the short-interest ratio is currently 6.5 days.
Separately, StockNews.com initiated coverage on shares of ADDvantage Technologies Group in a research note on Monday, June 6th. They issued a “sell” rating on the stock.
A number of hedge funds have recently modified their holdings of the business. Morgan Stanley grew its position in shares of ADDvantage Technologies Group by 76.2% in the 3rd quarter. Morgan Stanley now owns 21,992 shares of the technology company’s stock valued at $52,000 after acquiring an additional 9,508 shares during the period. Citadel Advisors LLC bought a new position in shares of ADDvantage Technologies Group in the 3rd quarter valued at about $45,000. Finally, Virtu Financial LLC bought a new position in shares of ADDvantage Technologies Group in the 4th quarter valued at about $48,000. Hedge funds and other institutional investors own 3.29% of the company’s stock.
Shares of AEY stock opened at $1.38 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.89 and a debt-to-equity ratio of 0.18. ADDvantage Technologies Group has a 1 year low of $1.05 and a 1 year high of $2.91. The firm’s fifty day moving average price is $1.27 and its two-hundred day moving average price is $1.39. The firm has a market capitalization of $18.24 million, a P/E ratio of -3.54 and a beta of 0.57.
ADDvantage Technologies Group (NASDAQ:AEY – Get Rating) last issued its quarterly earnings results on Wednesday, May 11th. The technology company reported ($0.11) earnings per share (EPS) for the quarter. ADDvantage Technologies Group had a negative net margin of 6.20% and a negative return on equity of 77.24%. The business had revenue of $23.76 million during the quarter.
About ADDvantage Technologies Group (Get Rating)
ADDvantage Technologies Group, Inc, through its subsidiaries, distributes and services electronics and hardware for the telecommunications industry in the United States and internationally. It operates through two segments, Wireless Infrastructure Services and Telecommunications. The Wireless Infrastructure Services segment provides turn-key wireless infrastructure services for U.S.
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