Hollysys Automation Technologies Ltd (HOLI) Short Interest Down 52.7% in November
Hollysys Automation Technologies Ltd (NASDAQ:HOLI) saw a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 573,651 shares, a decline of 52.7% from the November 15th total of 1,213,913 shares. Based on an average daily trading volume, of 263,302 shares, the days-to-cover ratio is currently 2.2 days. Currently, 1.0% of the shares of the company are sold short.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HOLI. Davis Selected Advisers lifted its holdings in Hollysys Automation Technologies by 168.7% during the second quarter. Davis Selected Advisers now owns 3,391,934 shares of the industrial products company’s stock valued at $56,340,000 after purchasing an additional 2,129,546 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Hollysys Automation Technologies by 405,692.7% during the third quarter. Wells Fargo & Company MN now owns 779,122 shares of the industrial products company’s stock valued at $16,837,000 after purchasing an additional 778,930 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Hollysys Automation Technologies by 65.4% during the third quarter. Bank of New York Mellon Corp now owns 923,188 shares of the industrial products company’s stock valued at $19,950,000 after purchasing an additional 364,971 shares during the last quarter. Vident Investment Advisory LLC lifted its holdings in Hollysys Automation Technologies by 43.4% during the third quarter. Vident Investment Advisory LLC now owns 1,158,939 shares of the industrial products company’s stock valued at $25,045,000 after purchasing an additional 350,648 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Hollysys Automation Technologies by 265.9% during the second quarter. Russell Investments Group Ltd. now owns 283,245 shares of the industrial products company’s stock valued at $4,704,000 after purchasing an additional 205,831 shares during the last quarter. 70.72% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently weighed in on HOLI. BidaskClub downgraded shares of Hollysys Automation Technologies from a “hold” rating to a “sell” rating in a report on Saturday, December 9th. Zacks Investment Research downgraded shares of Hollysys Automation Technologies from a “buy” rating to a “hold” rating in a report on Friday, November 17th. Finally, Deutsche Bank reissued a “buy” rating and issued a $25.00 price target (up from $23.00) on shares of Hollysys Automation Technologies in a report on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $21.52.
Hollysys Automation Technologies (NASDAQ:HOLI) last issued its quarterly earnings results on Monday, November 13th. The industrial products company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.04. The company had revenue of $115.50 million for the quarter. Hollysys Automation Technologies had a net margin of 15.46% and a return on equity of 9.65%. Hollysys Automation Technologies’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm posted $0.37 earnings per share. analysts predict that Hollysys Automation Technologies will post 1.82 earnings per share for the current fiscal year.
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About Hollysys Automation Technologies
Hollysys Automation Technologies Ltd. is a provider of automation and control technologies, and products. The Company’s segments include Industrial Automation (IA), Rail Transportation (rail), Mechanical and Electrical (M&E), and Miscellaneous. Its technologies are applied through its industrial automation solution suite, including the Distributed Control Systems, Programmable Logic Controller, Real-time Management Information System, HolliAS Asset Management System, Operator Training System, Batch Application Package, Advanced Process Control Package (HolliAS APC Suite), Safety Instrumentation System (SIS), railway signaling system of Train Control Center, Automatic Train Protection, Subway Supervisory and Control platform, nuclear power non-safety automation and control system HolliAs-NMS DCS and other products.
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