Commercial Vehicle Group, Inc. (NASDAQ:CVGI) was the target of a large drop in short interest during the month of July. As of July 14th, there was short interest totalling 845,135 shares, a drop of 22.6% from the June 30th total of 1,091,302 shares. Currently, 3.2% of the shares of the company are short sold. Based on an average daily volume of 228,437 shares, the short-interest ratio is presently 3.7 days.
Shares of Commercial Vehicle Group (NASDAQ:CVGI) opened at 6.30 on Friday. The company’s 50-day moving average price is $8.33 and its 200-day moving average price is $7.47. The company has a market cap of $188.20 million, a price-to-earnings ratio of 82.89 and a beta of 0.66. Commercial Vehicle Group has a 12 month low of $4.21 and a 12 month high of $9.62.
Commercial Vehicle Group (NASDAQ:CVGI) last announced its earnings results on Monday, August 7th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by $0.05. The business had revenue of $195.13 million for the quarter, compared to analysts’ expectations of $186.20 million. Commercial Vehicle Group had a net margin of 0.34% and a return on equity of 10.65%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 earnings per share. Analysts anticipate that Commercial Vehicle Group will post $0.36 EPS for the current year.
Institutional investors have recently modified their holdings of the stock. Trexquant Investment LP purchased a new position in shares of Commercial Vehicle Group during the first quarter valued at approximately $155,000. BlueCrest Capital Management Ltd purchased a new position in shares of Commercial Vehicle Group during the first quarter valued at approximately $155,000. Rhumbline Advisers purchased a new position in shares of Commercial Vehicle Group during the second quarter valued at approximately $225,000. Segantii Capital Management Ltd increased its position in shares of Commercial Vehicle Group by 568.0% in the first quarter. Segantii Capital Management Ltd now owns 33,400 shares of the company’s stock valued at $226,000 after buying an additional 28,400 shares during the last quarter. Finally, New York State Common Retirement Fund bought a new position in shares of Commercial Vehicle Group during the second quarter worth approximately $227,000. Institutional investors own 59.79% of the company’s stock.
CVGI has been the subject of several analyst reports. Zacks Investment Research cut Commercial Vehicle Group from a “buy” rating to a “hold” rating in a report on Friday. Seaport Global Securities decreased their price target on Commercial Vehicle Group from $11.00 to $8.50 and set a “buy” rating on the stock in a research note on Monday, May 8th.
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Commercial Vehicle Group Company Profile
Commercial Vehicle Group, Inc is a supplier of a range of cab-related products and systems. The Company operates through two segments: the Global Truck and Bus Segment (GTB Segment) and the Global Construction and Agriculture Segment (GCA Segment). The GTB Segment manufactures and sells products, which include Seats, Trim, sleeper boxes, cab structures, structural components and body panels, and mirrors and wiper systems.
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