IEC Electronics Corp (IEC) Sees Significant Increase in Short Interest
IEC Electronics Corp (NYSE:IEC) was the recipient of a large growth in short interest in the month of September. As of September 29th, there was short interest totalling 26,108 shares, a growth of 84.7% from the September 15th total of 14,135 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 50,284 shares, the days-to-cover ratio is currently 0.5 days.
Several equities research analysts have issued reports on IEC shares. Zacks Investment Research raised shares of IEC Electronics Corp from a “hold” rating to a “buy” rating and set a $4.25 price target on the stock in a report on Tuesday, July 18th. ValuEngine raised shares of IEC Electronics Corp from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Noble Financial reaffirmed a “buy” rating on shares of IEC Electronics Corp in a report on Thursday, August 10th. Maxim Group started coverage on shares of IEC Electronics Corp in a report on Thursday, August 17th. They issued a “buy” rating and a $7.00 target price on the stock. Finally, TheStreet lowered shares of IEC Electronics Corp from a “c” rating to a “d+” rating in a report on Monday, June 12th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. IEC Electronics Corp presently has a consensus rating of “Hold” and an average target price of $4.82.
IEC Electronics Corp (IEC) traded down 2.20% during midday trading on Tuesday, hitting $4.88. 40,846 shares of the stock traded hands. The firm’s 50 day moving average is $4.55 and its 200-day moving average is $3.98. The stock’s market capitalization is $50.36 million. IEC Electronics Corp has a 12-month low of $3.21 and a 12-month high of $5.10.
An institutional investor recently raised its position in IEC Electronics Corp stock. Walthausen & Co. LLC raised its holdings in IEC Electronics Corp (NYSE:IEC) by 98.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 158,870 shares of the technology company’s stock after acquiring an additional 78,870 shares during the period. Walthausen & Co. LLC owned about 1.54% of IEC Electronics Corp worth $572,000 at the end of the most recent quarter.
IEC Electronics Corp Company Profile
IEC Electronics Corp. provides electronic manufacturing services (EMS) to a range of technology companies that produce life-saving and mission critical products for the medical, industrial, aerospace and defense sectors. The Company specializes in delivering technical solutions for the custom manufacture of full system assemblies by providing on-site analytical testing laboratories, custom design and test engineering services combined with an array of manufacturing services encompassing electronics, interconnect solutions and precision metalworking.
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