Garmin Ltd. (NASDAQ:GRMN) saw a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 11,814,900 shares, a drop of 12.5% from the January 12th total of 13,497,151 shares. Currently, 10.6% of the shares of the company are short sold. Based on an average daily volume of 1,312,562 shares, the days-to-cover ratio is presently 9.0 days.
Garmin (NASDAQ GRMN) opened at $61.22 on Friday. Garmin has a twelve month low of $48.50 and a twelve month high of $64.96. The stock has a market capitalization of $11,480.00, a PE ratio of 16.68, a P/E/G ratio of 2.55 and a beta of 0.94.
In other Garmin news, EVP Philip Straub sold 2,453 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $61.91, for a total transaction of $151,865.23. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Clifton A. Pemble sold 2,413 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $60.30, for a total value of $145,503.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 639,621 shares of company stock worth $39,206,893. Corporate insiders own 18.30% of the company’s stock.
GRMN has been the topic of several research reports. Credit Suisse Group reaffirmed an “underperform” rating and set a $58.00 price objective (up previously from $48.00) on shares of Garmin in a report on Tuesday, December 12th. Zacks Investment Research raised Garmin from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Thursday, January 4th. Tigress Financial reaffirmed a “buy” rating on shares of Garmin in a report on Friday, December 15th. BidaskClub lowered Garmin from a “buy” rating to a “hold” rating in a report on Friday, December 15th. Finally, Morgan Stanley raised their price objective on Garmin from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $56.71.
Garmin Ltd. (Garmin) and subsidiaries offer global positioning system (GPS) navigation and wireless devices and applications. The Company operates through five segments. It offers a range of auto navigation products, as well as a range of products and applications designed for the mobile GPS market. It offers products to consumers around the world, including Outdoor Handhelds, Wearable Devices, Golf Devices, and Dog Tracking and Training/Pet Obedience Devices.
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