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Mayville Engineering Company, Inc. (NYSE:MEC – Get Rating) saw a significant increase in short interest during the month of November. As of 30 November, there was short interest in a total of 62,400 shares, an increase of 14.5% from a total of 54,500 shares as of 15 November. About 0.7% of the stock shares are sold short. Based on an average daily volume of 62,300 shares, the days to cover ratio currently stands at 1.0 days.
Wall Street Analysts Weigh In
MEC has been the subject of several research reports. TheStreet upgraded Mevil Engineering from a “d+” rating to a “c-” rating in a research note on Monday, December 5. Citigroup raised its price objective on Mayville Engineering from $12.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, December 9. Finally, Robert W. Baird upgraded Mayville Engineering from a “neutral” rating to a “outperform” rating and raised his price objective for the stock from $7.00 to $15.00 in a research note on Thursday, November 3.
insider buying and selling
In other Mevil Engineering news, CEO Jagdish A. Reddy bought 13,454 shares of Mevil Engineering stock in a transaction that took place on Thursday, November 3. The stock was purchased at an average price of $8.69 per share, with a total value of $116,915.26. Following the acquisition, the chief executive officer now owns 109,608 shares of the company’s stock, valued at approximately $952,493.52. The acquisition was disclosed in a filing with the Securities and Exchange Commission, which is available via this hyperlink. 9.50% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Large investors have increased or decreased their stake in the business recently. Tower Research Capital LLC TRC raised its stake in Mevil Engineering to 239.6% in the third quarter. Tower Research Capital LLC TRC now owns 4,523 shares of the company’s stock valued at $30,000 after acquiring an additional 3,191 shares during the last quarter. Trexquant Investments LP acquired a new position in Mayville Engineering in the third quarter valued at approximately $66,000. HSBC Holdings plc raised its stake in Mevil Engineering to 32.5% in the third quarter. HSBC Holdings plc now owns 13,393 shares of the company’s stock valued at $89,000 after acquiring an additional 3,286 shares during the last quarter. KeyBanc National Association OH acquired a new position in Mayville Engineering in the second quarter worth approximately $89,000. Lastly, Sei Investments Co. acquired a new position in Mayville Engineering in the second quarter valued at approximately $121,000. 34.97% of the stock is currently owned by institutional investors and hedge funds.
Mayville Engineering Price Display
Shares of MEC stock traded up $0.73 during trading hours on Friday, reaching $13.63. The company had a trading volume of 116,182 shares as compared to an average volume of 82,780. The debt-to-equity ratio of the company is 0.33, quick ratio is 0.70 and current ratio is 1.38. The fifty-day moving average of the stock is $9.84 and the 200-day moving average is $8.27. The company has a market capitalization of $274.96 million, price-to-earnings ratio of 90.87 and beta of 0.82. Mevil Engineering’s 12-Month Low is $5.95 and its 12-Month High is $15.33.
Mayville Engineering (NYSE: MEC – Receive Rating) last posted its quarterly earnings results on Tuesday, November 1. The company reported earnings per share (EPS) of $0.23 for the quarter, beating analysts’ consensus estimate of $0.20 by $0.03. The business’s revenue during the quarter was $136.28 million, compared to analyst estimates of $128.90 million. Mevil Engineering had a Return on Equity of 6.68% and Net Margin of 0.53%. On average, equity analysts expect Mevil Engineering to post 0.99 earnings per share for the current year.
Mevil Engineering Company Profile
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Mayville Engineering Company, Inc., together with its subsidiaries, operates as a contract manufacturer serving heavy and medium duty commercial vehicles, construction and access equipment, powersports, agricultural, military and other end markets in the United States. Is. The company provides prototyping and tooling, production fabrication, coating, assembly and a range of aftermarket components.
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