Art’s-Way Manufacturing Co., Inc. (NASDAQ:ARTW) Sees Significant Decrease in Short Interest

Art’s-Way Manufacturing Co., Inc. (NASDAQ:ARTW) was the recipient of a large drop in short interest in October. As of October 15th, there was short interest totaling 36,667 shares, a drop of 38.7% from the September 30th total of 59,792 shares. Based on an average trading volume of 14,726 shares, the days-to-cover ratio is presently 2.5 days. Currently, 1.5% of the company’s stock are short sold.

Art’s-Way Manufacturing Trading Up 4.2%

Shares of NASDAQ:ARTW traded up $0.12 during midday trading on Monday, reaching $2.83. The company’s stock had a trading volume of 781 shares, compared to its average volume of 187,178. The business has a 50 day moving average price of $3.10 and a 200 day moving average price of $2.64. The company has a quick ratio of 0.57, a current ratio of 1.71 and a debt-to-equity ratio of 0.17. Art’s-Way Manufacturing has a 1 year low of $2.05 and a 1 year high of $4.17. The firm has a market cap of $14.72 million, a price-to-earnings ratio of -31.39 and a beta of 1.10.

Art’s-Way Manufacturing (NASDAQ:ARTW) last announced its quarterly earnings results on Tuesday, October 13th. The industrial products company reported ($0.03) earnings per share for the quarter. Art’s-Way Manufacturing had a negative net margin of 1.65% and a negative return on equity of 3.06%. The business had revenue of $5.62 million for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Art’s-Way Manufacturing from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Hedge Funds Weigh In On Art’s-Way Manufacturing

A number of institutional investors and hedge funds have recently bought and sold shares of ARTW. Dimensional Fund Advisors LP boosted its stake in shares of Art’s-Way Manufacturing by 9.6% in the first quarter. Dimensional Fund Advisors LP now owns 44,679 shares of the industrial products company’s stock valued at $93,000 after purchasing an additional 3,899 shares during the period. Susquehanna International Group LLP increased its position in shares of Art’s-Way Manufacturing by 69.7% during the second quarter. Susquehanna International Group LLP now owns 19,664 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 8,079 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Art’s-Way Manufacturing by 13.7% during the first quarter. Renaissance Technologies LLC now owns 141,474 shares of the industrial products company’s stock worth $296,000 after acquiring an additional 17,000 shares during the last quarter. Hedge funds and other institutional investors own 2.91% of the company’s stock.

Art’s-Way Manufacturing Company Profile

Art’s-Way Manufacturing Co, Inc (NASDAQ:ARTW) designs and manufactures agricultural and rural-use equipment. The company’s product portfolio includes machinery for forage harvesting, manure handling, hay production, tillage, land maintenance, snow removal and grain handling, serving farmers, agricultural contractors and other rural customers.

Its equipment is marketed under the Art’s-Way brand and is distributed primarily through a network of agricultural equipment dealers. The company serves customers in the United States and Canada, with products also reaching selected international markets through its distribution channels.

Founded in 1956 and headquartered in Armstrong, Iowa, Art’s-Way has developed from a regional agricultural equipment manufacturer into a publicly traded company with a broader lineup of farm and specialty machinery.