Nordson Sees Large Decline in Short Interest (NDSN)
Shares of Nordson (NASDAQ:NDSN) were the target of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totalling 673,248 shares, a decrease of 30.5% from the June 13th total of 968,319 shares, Analyst RN reports. Currently, 1.2% of the shares of the company are short sold. Based on an average daily volume of 369,521 shares, the days-to-cover ratio is presently 1.8 days.
A number of research firms have recently commented on NDSN. Analysts at Global Hunter Securities upgraded shares of Nordson from a “neutral” rating to an “accumulate” rating in a research note on Monday, July 14th. They now have a $85.00 price target on the stock, up previously from $80.00. Analysts at Barrington Research upgraded shares of Nordson from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 18th. They now have a $95.00 price target on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $84.68.
Nordson (NASDAQ:NDSN) opened at 78.36 on Tuesday. Nordson has a 52 week low of $65.78 and a 52 week high of $84.95. The stock has a 50-day moving average of $80.37 and a 200-day moving average of $74.46. The company has a market cap of $4.989 billion and a P/E ratio of 22.94.
Nordson (NASDAQ:NDSN) last posted its quarterly earnings results on Thursday, May 22nd. The company reported $0.96 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.89 by $0.07. The company had revenue of $417.00 million for the quarter, compared to the consensus estimate of $406.71 million. During the same quarter last year, the company posted $0.84 earnings per share. Nordson’s revenue was up 9.2% compared to the same quarter last year. On average, analysts predict that Nordson will post $3.79 earnings per share for the current fiscal year.
Nordson Corporation is a manufacturer of equipment used for precision material dispensing, testing and inspection, surface preparation and curing.
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