National Presto Industries, Inc. (NYSE:NPK) Sees Large Growth in Short Interest


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National Presto Industries, Inc. (NYSE:NPK) saw a significant increase in short interest in the month of October. As of October 30th, there was short interest totalling 144,600 shares, an increase of 13.6% from the October 15th total of 127,300 shares. Currently, 2.9% of the shares of the stock are sold short. Based on an average daily volume of 22,900 shares, the short-interest ratio is presently 6.3 days.

Separately, TheStreet raised National Presto Industries from a “c+” rating to a “b” rating in a research note on Monday, November 16th.

Institutional investors have recently modified their holdings of the stock. Royce & Associates LP grew its position in National Presto Industries by 7.1% during the third quarter. Royce & Associates LP now owns 431,060 shares of the conglomerate’s stock worth $35,287,000 after buying an additional 28,600 shares during the period. State Street Corp grew its holdings in National Presto Industries by 2.4% in the 1st quarter. State Street Corp now owns 336,705 shares of the conglomerate’s stock valued at $23,842,000 after buying an additional 7,887 shares during the period. Morgan Stanley grew its holdings in National Presto Industries by 32.0% in the 1st quarter. Morgan Stanley now owns 76,084 shares of the conglomerate’s stock valued at $5,387,000 after buying an additional 18,431 shares during the period. Baird Financial Group Inc. increased its stake in shares of National Presto Industries by 0.6% during the 2nd quarter. Baird Financial Group Inc. now owns 48,645 shares of the conglomerate’s stock valued at $4,300,000 after acquiring an additional 295 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of National Presto Industries by 172.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 45,200 shares of the conglomerate’s stock worth $3,950,000 after acquiring an additional 28,600 shares during the period. 57.44% of the stock is currently owned by hedge funds and other institutional investors.

NPK traded down $0.32 during midday trading on Friday, hitting $88.40. 39,281 shares of the company traded hands, compared to its average volume of 40,516. The business has a 50 day simple moving average of $83.79 and a two-hundred day simple moving average of $85.75. National Presto Industries has a 52-week low of $66.60 and a 52-week high of $97.90. The company has a market capitalization of $620.83 million, a price-to-earnings ratio of 13.90 and a beta of 0.70.

About National Presto Industries

National Presto Industries Inc provides housewares and small appliances, and defense and safety products primarily in North America. The company's Housewares/Small Appliance segment designs, markets, and distributes housewares and small electrical appliances, including pressure cookers and canners; heat control single thermostatic control line of skillets, griddles, woks, and multi-purpose cookers under the Presto Control Master brand; slow cookers; deep fryers; air fryers; waffle makers; pizza ovens; slicer/shredders; electric heaters; hot air, oil, and microwave corn poppers; dehydrators; rice cookers; microwave bacon cookers; egg cookers; coffeemakers and coffeemaker accessories; electric tea kettles; electric knife sharpeners; various kitchen gadgets; and timers.

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