Short Interest in Exponent, Inc. (NASDAQ:EXPO) Expands By 10.3%

Exponent, Inc. (NASDAQ:EXPO) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 1,710,000 shares, an increase of 10.3% from the August 31st total of 1,550,000 shares. Based on an average daily volume of 201,400 shares, the days-to-cover ratio is currently 8.5 days. Approximately 3.4% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, Truist Financial reaffirmed a “buy” rating and issued a $120.00 target price (up previously from $100.00) on shares of Exponent in a report on Friday, July 26th.

Exponent Stock Performance

Shares of NASDAQ:EXPO traded down $2.11 during trading on Tuesday, hitting $113.17. 169,798 shares of the stock were exchanged, compared to its average volume of 253,868. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of 57.16 and a beta of 0.66. Exponent has a 1-year low of $64.61 and a 1-year high of $115.61. The company’s fifty day simple moving average is $106.54 and its 200-day simple moving average is $96.42.

Exponent (NASDAQ:EXPO) last announced its quarterly earnings data on Thursday, July 25th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. Exponent had a net margin of 19.35% and a return on equity of 28.39%. The company had revenue of $132.43 million during the quarter, compared to analysts’ expectations of $130.83 million. During the same quarter in the prior year, the company posted $0.50 EPS. The business’s revenue was up 2.1% on a year-over-year basis. On average, research analysts forecast that Exponent will post 2.04 earnings per share for the current fiscal year.

Exponent Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, September 6th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.99%. The ex-dividend date was Friday, September 6th. Exponent’s dividend payout ratio is currently 56.57%.

Insider Buying and Selling

In other news, VP John Pye sold 3,956 shares of Exponent stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $105.00, for a total value of $415,380.00. Following the transaction, the vice president now owns 28,422 shares of the company’s stock, valued at $2,984,310. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Exponent

Hedge funds have recently modified their holdings of the company. Quarry LP acquired a new position in shares of Exponent in the 2nd quarter worth approximately $25,000. GAMMA Investing LLC grew its holdings in shares of Exponent by 67.7% during the second quarter. GAMMA Investing LLC now owns 379 shares of the business services provider’s stock worth $36,000 after purchasing an additional 153 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Exponent by 866.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 512 shares of the business services provider’s stock valued at $42,000 after buying an additional 459 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Exponent by 166.5% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 517 shares of the business services provider’s stock valued at $49,000 after buying an additional 323 shares during the last quarter. Finally, Janiczek Wealth Management LLC lifted its position in Exponent by 293.7% during the 1st quarter. Janiczek Wealth Management LLC now owns 626 shares of the business services provider’s stock worth $52,000 after buying an additional 467 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Exponent Company Profile

Exponent, Inc, together with its subsidiaries, operates as a science and engineering consulting company in the United States and internationally. The company operates in two segments, Engineering and Other Scientific, and Environmental and Health. The Engineering and Other Scientific segment provides services in the areas of biomechanics, biomedical engineering and sciences, buildings and structures, civil engineering, construction consulting, data sciences, electrical engineering and computer science, human factors, materials and corrosion engineering, mechanical engineering, polymer science and materials chemistry, thermal sciences, and vehicle engineering.