Virco Mfg. Co. (NASDAQ:VIRC) was the recipient of a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 16,400 shares, a drop of 10.4% from the January 15th total of 18,300 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average daily volume of 10,900 shares, the short-interest ratio is currently 1.5 days.
An institutional investor recently raised its position in Virco Mfg. stock. D.A. Davidson & CO. grew its holdings in Virco Mfg. Co. (NASDAQ:VIRC) by 9.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 843,824 shares of the company’s stock after acquiring an additional 73,884 shares during the period. D.A. Davidson & CO. owned about 5.37% of Virco Mfg. worth $3,249,000 as of its most recent filing with the Securities & Exchange Commission. 31.43% of the stock is currently owned by hedge funds and other institutional investors.
VIRC stock opened at $3.98 on Friday. The company has a current ratio of 2.49, a quick ratio of 0.80 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $63.00 million, a PE ratio of 398.00 and a beta of 0.70. Virco Mfg. has a 12-month low of $3.30 and a 12-month high of $5.00. The business’s fifty day moving average price is $4.16 and its 200 day moving average price is $4.12.
Virco Mfg. (NASDAQ:VIRC) last announced its earnings results on Friday, December 13th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.14. The company had revenue of $67.00 million during the quarter, compared to analysts’ expectations of $68.70 million. Virco Mfg. had a return on equity of 0.41% and a net margin of 0.13%. Research analysts predict that Virco Mfg. will post 0.1 EPS for the current fiscal year.
Several analysts recently weighed in on VIRC shares. ValuEngine upgraded shares of Virco Mfg. from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Zacks Investment Research upgraded Virco Mfg. from a “hold” rating to a “strong-buy” rating and set a $4.75 price target on the stock in a research note on Thursday, December 19th.
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.
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