Virco Mfg. Co. (NASDAQ:VIRC) Sees Large Decline in Short Interest

Virco Mfg. Co. (NASDAQ:VIRC) saw a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 4,100 shares, a drop of 25.5% from the May 30th total of 5,500 shares. Based on an average daily volume of 5,900 shares, the short-interest ratio is presently 0.7 days. Currently, 0.0% of the company’s shares are sold short.

Shares of Virco Mfg. stock remained flat at $$4.38 during mid-day trading on Thursday. 5,200 shares of the company’s stock traded hands, compared to its average volume of 5,884. Virco Mfg. has a one year low of $3.70 and a one year high of $5.35. The firm has a market capitalization of $68.07 million, a P/E ratio of -43.80 and a beta of 0.76. The stock’s fifty day moving average is $4.31. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.29 and a current ratio of 1.48.

Virco Mfg. (NASDAQ:VIRC) last released its earnings results on Friday, June 14th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.06). Virco Mfg. had a negative return on equity of 1.90% and a negative net margin of 0.54%. The company had revenue of $26.89 million during the quarter, compared to analyst estimates of $23.20 million. On average, equities analysts expect that Virco Mfg. will post 0.03 earnings per share for the current year.

Separately, Zacks Investment Research cut shares of Yatra Online from a “hold” rating to a “sell” rating in a research note on Saturday, July 6th.

A hedge fund recently raised its stake in Virco Mfg. stock. Wedbush Securities Inc. increased its stake in Virco Mfg. Co. (NASDAQ:VIRC) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,728,938 shares of the company’s stock after acquiring an additional 10,602 shares during the period. Virco Mfg. makes up 0.8% of Wedbush Securities Inc.’s investment portfolio, making the stock its 18th largest position. Wedbush Securities Inc. owned about 11.12% of Virco Mfg. worth $7,486,000 as of its most recent filing with the SEC. Institutional investors own 31.29% of the company’s stock.

About Virco Mfg.

Virco Mfg. Corporation engages in the design, production, and distribution of furniture for the commercial and education markets in the United States. It offers seating products, including 4-leg chairs, cantilever and tablet arm chairs, work surfaces and compact footprints, steel-frame rockers, stools, task and classroom chairs, stack and folding chairs, hard plastic seats, upholstered stack and ergonomic chairs, and plastic stack chairs.

Further Reading: Accumulation/Distribution

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