Commercial Vehicle Group, Inc. (NASDAQ:CVGI – Get Rating) was the target of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 428,000 shares, a decrease of 9.8% from the August 15th total of 474,400 shares. Based on an average daily volume of 210,400 shares, the days-to-cover ratio is presently 2.0 days. Currently, 1.5% of the company’s shares are sold short.
Analysts Set New Price Targets
CVGI has been the topic of a number of analyst reports. StockNews.com raised Commercial Vehicle Group from a “hold” rating to a “buy” rating in a research report on Thursday. Barrington Research cut their price target on Commercial Vehicle Group from $14.00 to $10.00 and set an “outperform” rating for the company in a report on Monday, August 8th.
Commercial Vehicle Group Stock Performance
NASDAQ CVGI opened at $5.68 on Monday. Commercial Vehicle Group has a fifty-two week low of $5.23 and a fifty-two week high of $10.58. The stock has a market cap of $189.74 million, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 0.30 and a beta of 3.18. The business has a fifty day moving average of $6.76 and a 200-day moving average of $6.97. The company has a quick ratio of 1.39, a current ratio of 2.17 and a debt-to-equity ratio of 1.48.
Institutional Investors Weigh In On Commercial Vehicle Group
Hedge funds and other institutional investors have recently made changes to their positions in the business. Forager Capital Management LLC purchased a new stake in Commercial Vehicle Group during the fourth quarter valued at about $8,726,000. Millennium Management LLC purchased a new stake in shares of Commercial Vehicle Group in the second quarter worth about $2,307,000. Royce & Associates LP boosted its position in shares of Commercial Vehicle Group by 24.2% in the first quarter. Royce & Associates LP now owns 1,515,273 shares of the company’s stock worth $12,804,000 after buying an additional 295,290 shares during the period. Polar Asset Management Partners Inc. boosted its position in shares of Commercial Vehicle Group by 16.2% in the first quarter. Polar Asset Management Partners Inc. now owns 1,763,132 shares of the company’s stock worth $14,898,000 after buying an additional 245,838 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Commercial Vehicle Group by 167.4% in the first quarter. Invesco Ltd. now owns 264,352 shares of the company’s stock worth $2,234,000 after buying an additional 165,476 shares during the period. Hedge funds and other institutional investors own 55.12% of the company’s stock.
Commercial Vehicle Group Company Profile
Commercial Vehicle Group, Inc, together with its subsidiaries, designs, manufactures, produces, and sells components and assemblies in North America, Europe, and the Asia-Pacific regions. It operates in four segments: Vehicle Solutions, Warehouse Automation, Electrical Systems, and Aftermarket & Accessories.
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