Short Interest in Sterling Construction Company Expands By 41.7% (STRL)
Sterling Construction Company (NASDAQ:STRL) was the recipient of a significant growth in short interest in April. As of April 30th, there was short interest totalling 919,712 shares, a growth of 41.7% from the April 15th total of 649,206 shares, AnalystRatings.Net reports. Currently, 6.2% of the shares of the stock are short sold. Based on an average trading volume of 109,180 shares, the days-to-cover ratio is presently 8.4 days.
In other Sterling Construction Company news, CEO Peter Mackenna bought 3,860 shares of Sterling Construction Company stock on the open market in a transaction dated Wednesday, May 14th. The stock was purchased at an average cost of $8.99 per share, for a total transaction of $34,701.40. Following the acquisition, the chief executive officer now directly owns 203,933 shares of the company’s stock, valued at approximately $1,833,358. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at DA Davidson upgraded shares of Sterling Construction Company from a “neutral” rating to a “buy” rating in a research note on Monday, May 12th. Separately, analysts at Zacks upgraded shares of Sterling Construction Company from an “underperform” rating to a “neutral” rating in a research note on Tuesday, May 6th. They now have a $8.30 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $9.65.
Shares of Sterling Construction Company (NASDAQ:STRL) opened at 9.06 on Monday. Sterling Construction Company has a 52 week low of $6.72 and a 52 week high of $12.37. The stock’s 50-day moving average is $7.89 and its 200-day moving average is $9.92. The company’s market cap is $170.1 million.
Sterling Construction Company (NASDAQ:STRL) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.01 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.08) by $0.09. The company had revenue of $134.50 million for the quarter, compared to the consensus estimate of $123.90 million. During the same quarter last year, the company posted ($0.39) earnings per share. Sterling Construction Company’s revenue was up 21.2% compared to the same quarter last year. Analysts expect that Sterling Construction Company will post $0.41 EPS for the current fiscal year.
Sterling Construction Company, Inc (NASDAQ:STRL) is a heavy civil construction company that specializes in the building, reconstruction and repair of transportation and water infrastructure.
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