Taylor Devices, Inc. (NASDAQ:TAYD) Short Interest Up 237.5% in June

Taylor Devices, Inc. (NASDAQ:TAYD) saw a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 139,068 shares, an increase of 237.5% from the June 15th total of 41,203 shares. Currently, 4.7% of the company’s shares are sold short. Based on an average daily volume of 77,254 shares, the short-interest ratio is presently 1.8 days.

Wall Street Analyst Weigh In

Several research firms recently commented on TAYD. Wall Street Zen upgraded shares of Taylor Devices from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Weiss Ratings downgraded Taylor Devices from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Taylor Devices has a consensus rating of “Hold”.

Taylor Devices Trading Up 0.4%

NASDAQ:TAYD opened at $55.96 on Wednesday. Taylor Devices has a 12 month low of $40.50 and a 12 month high of $90.37. The stock has a market capitalization of $180.19 million, a price-to-earnings ratio of 16.96 and a beta of 0.92. The firm has a fifty day simple moving average of $54.17 and a two-hundred day simple moving average of $64.67.

Insider Buying and Selling at Taylor Devices

In other news, Director Robert Michael Carey sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $56.73, for a total value of $283,650.00. Following the completion of the transaction, the director owned 7,721 shares of the company’s stock, valued at $438,012.33. This represents a 39.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 8.88% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its holdings in shares of Taylor Devices by 12.5% during the first quarter. Renaissance Technologies LLC now owns 49,662 shares of the industrial products company’s stock valued at $2,831,000 after acquiring an additional 5,500 shares in the last quarter. Sei Investments Co. acquired a new position in shares of Taylor Devices during the first quarter worth approximately $943,000. Royal Bank of Canada lifted its holdings in shares of Taylor Devices by 68.2% in the 4th quarter. Royal Bank of Canada now owns 740 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 300 shares in the last quarter. Two Sigma Investments LP bought a new position in shares of Taylor Devices in the 3rd quarter worth $205,000. Finally, Tower Research Capital LLC TRC grew its position in Taylor Devices by 253.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,014 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 727 shares during the period. 17.62% of the stock is owned by institutional investors and hedge funds.

About Taylor Devices

Taylor Devices, Inc is an engineering firm headquartered in North Tonawanda, New York, specializing in the design, development and manufacture of motion control products and engineered fluid-handling devices. The company’s core focus is on providing high-performance hydraulic dampers, fluid springs (also known as gas springs), shock absorbers and hydraulic accumulators that are used to manage energy and motion in a wide range of industrial and structural applications.

The company’s product portfolio includes industrial shock absorbers designed to cushion and decelerate moving parts in manufacturing and test-and-measurement systems, fluid viscous dampers for seismic protection of buildings and bridges, and fluid spring devices that combine the properties of a gas spring and a hydraulic damper.