IES Holdings, Inc. (NASDAQ:IESC) Sees Large Increase in Short Interest

IES Holdings, Inc. (NASDAQ:IESC) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 1,225,405 shares, an increase of 81.2% from the August 15th total of 676,146 shares. Currently, 7.1% of the shares of the company are sold short. Based on an average daily volume of 263,361 shares, the days-to-cover ratio is presently 4.7 days.

Wall Street Analysts Forecast Growth

IESC has been the subject of several recent research reports. Wall Street Zen upgraded shares of IES from a “buy” rating to a “strong-buy” rating in a research report on Sunday, September 20th. Freedom Broker upgraded IES from a “hold” rating to a “buy” rating and set a $440.00 price target for the company in a research note on Friday, September 11th. Finally, Weiss Ratings upgraded shares of IES from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, September 21st. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $334.50.

Institutional Trading of IES

Large investors have recently bought and sold shares of the company. Allworth Financial LP purchased a new stake in IES during the second quarter valued at about $25,000. Toth Financial Advisory Corp increased its position in shares of IES by 73.9% during the second quarter. Toth Financial Advisory Corp now owns 40 shares of the technology company’s stock valued at $29,000 after purchasing an additional 17 shares during the period. Optiver Holding B.V. lifted its stake in shares of IES by 62.5% during the first quarter. Optiver Holding B.V. now owns 52 shares of the technology company’s stock valued at $25,000 after acquiring an additional 20 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of IES in the second quarter valued at approximately $40,000. Finally, Parallel Advisors LLC lifted its position in IES by 121.4% during the first quarter. Parallel Advisors LLC now owns 62 shares of the technology company’s stock worth $30,000 after acquiring an additional 34 shares during the last quarter. Institutional investors and hedge funds own 86.60% of the company’s stock.

IES Stock Performance

NASDAQ:IESC traded down $2.34 during mid-day trading on Monday, hitting $321.79. 69,093 shares of the stock were exchanged, compared to its average volume of 421,167. IES has a fifty-two week low of $170.07 and a fifty-two week high of $408.26. The stock has a market capitalization of $12.82 billion, a price-to-earnings ratio of 28.65 and a beta of 1.78. The firm’s 50-day simple moving average is $269.02 and its 200 day simple moving average is $193.65.

IES (NASDAQ:IESC) last issued its earnings results on Friday, July 31st. The technology company reported $3.35 EPS for the quarter, beating the consensus estimate of $2.42 by $0.93. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.08 billion. IES had a return on equity of 35.70% and a net margin of 11.40%.

About IES

IES Holdings, Inc (NASDAQ: IESC) is an industrial technology and infrastructure services company that designs, manufactures and installs electrical and mechanical systems. The company serves customers across the data center, industrial, commercial, residential and communications markets.

Its businesses provide electrical contracting, power distribution and control systems, communications infrastructure, structured cabling and related installation services. IES also manufactures and integrates modular and engineered systems used in data centers and other mission-critical facilities, while its residential operations support electrical and other building-system needs for housing construction.

Founded in 1997, IES Holdings serves customers primarily in the United States through operating companies and facilities located across multiple regions.