EVI Industries, Inc. (NYSEAMERICAN:EVI) Short Interest Up 90.2% in December

EVI Industries, Inc. (NYSEAMERICAN:EVI) saw a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 71,122 shares, a growth of 90.2% from the December 15th total of 37,397 shares. Based on an average daily volume of 21,912 shares, the days-to-cover ratio is currently 3.2 days. Currently, 1.1% of the shares of the company are short sold. Currently, 1.1% of the shares of the company are short sold. Based on an average daily volume of 21,912 shares, the days-to-cover ratio is currently 3.2 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its holdings in shares of EVI Industries by 39.6% in the fourth quarter. Bank of America Corp DE now owns 4,988 shares of the industrial products company’s stock worth $82,000 after buying an additional 1,416 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in EVI Industries by 27.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,814 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 829 shares during the last quarter. Rhumbline Advisers lifted its stake in EVI Industries by 21.4% in the 1st quarter. Rhumbline Advisers now owns 5,336 shares of the industrial products company’s stock worth $90,000 after purchasing an additional 940 shares in the last quarter. Hilltop National Bank bought a new position in shares of EVI Industries during the 2nd quarter valued at about $90,000. Finally, Conestoga Capital Advisors LLC grew its position in shares of EVI Industries by 2.7% during the second quarter. Conestoga Capital Advisors LLC now owns 833,551 shares of the industrial products company’s stock valued at $18,196,000 after purchasing an additional 21,891 shares in the last quarter. 37.30% of the stock is currently owned by institutional investors.

EVI Industries Price Performance

Shares of EVI stock traded up $0.14 on Thursday, hitting $25.54. 4,954 shares of the stock traded hands, compared to its average volume of 14,681. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.41 and a quick ratio of 0.74. EVI Industries has a 52 week low of $14.99 and a 52 week high of $34.82. The firm has a 50 day simple moving average of $23.21 and a two-hundred day simple moving average of $25.45. The firm has a market cap of $368.03 million and a price-to-earnings ratio of 65.49.

EVI Industries (NYSEAMERICAN:EVI) last issued its quarterly earnings results on Monday, November 10th. The industrial products company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.05). The business had revenue of $108.27 million during the quarter, compared to analysts’ expectations of $109.10 million. EVI Industries had a return on equity of 4.35% and a net margin of 1.51%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reissued a “buy” rating and set a $40.00 price target on shares of EVI Industries in a report on Wednesday, November 12th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $40.00.

About EVI Industries

EVI Industries, Inc, through its subsidiaries, engages in the distribution, sale, rental, and lease of commercial and industrial laundry and dry-cleaning equipment in the United States, Canada, the Caribbean, and Latin America. The company sells and/or leases commercial laundry equipment specializing in washing, drying, finishing, material handling, water heating, power generation, and water reuse applications. It offers washroom equipment, such as washers and dryers, tunnel systems, and vended machines; finishing equipment comprising sheet feeders, flatwork ironers, automatic sheet folders, and stackers; and material handling equipment, including conveyor and rail systems.