Titan Machinery Inc. (NASDAQ:TITN) Short Interest Update

Titan Machinery Inc. (NASDAQ:TITN) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totalling 566,700 shares, an increase of 42.2% from the May 31st total of 398,600 shares. Based on an average daily volume of 245,500 shares, the days-to-cover ratio is currently 2.3 days. Approximately 2.8% of the company’s stock are sold short.

Titan Machinery Stock Performance

Shares of TITN traded down $0.08 during trading hours on Friday, hitting $15.90. The company had a trading volume of 547,747 shares, compared to its average volume of 233,638. The firm has a market cap of $362.81 million, a price-to-earnings ratio of 3.82 and a beta of 1.39. The business has a fifty day moving average of $19.97 and a 200-day moving average of $23.92. Titan Machinery has a 12 month low of $15.65 and a 12 month high of $34.99. The company has a quick ratio of 0.15, a current ratio of 1.29 and a debt-to-equity ratio of 0.16.

Titan Machinery (NASDAQ:TITN) last issued its quarterly earnings data on Thursday, May 23rd. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.26). Titan Machinery had a net margin of 3.37% and a return on equity of 14.93%. The company had revenue of $628.70 million during the quarter, compared to the consensus estimate of $664.18 million. Equities analysts anticipate that Titan Machinery will post 2.22 EPS for the current fiscal year.

Analyst Ratings Changes

TITN has been the topic of several analyst reports. Robert W. Baird dropped their price target on shares of Titan Machinery from $24.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. StockNews.com lowered shares of Titan Machinery from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. B. Riley lowered shares of Titan Machinery from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $32.00 to $20.00 in a research report on Wednesday, June 5th. Finally, Craig Hallum dropped their price target on shares of Titan Machinery from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Titan Machinery has a consensus rating of “Hold” and a consensus price target of $31.00.

Insider Transactions at Titan Machinery

In other Titan Machinery news, Director David Joseph Meyer acquired 55,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were acquired at an average price of $18.12 per share, with a total value of $996,600.00. Following the completion of the transaction, the director now directly owns 1,805,000 shares in the company, valued at approximately $32,706,600. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Titan Machinery

Several institutional investors and hedge funds have recently modified their holdings of TITN. Quent Capital LLC acquired a new position in shares of Titan Machinery in the fourth quarter valued at about $87,000. Quest Partners LLC acquired a new position in shares of Titan Machinery in the fourth quarter valued at about $165,000. Corton Capital Inc. acquired a new position in shares of Titan Machinery in the third quarter valued at about $234,000. Sherbrooke Park Advisers LLC acquired a new position in shares of Titan Machinery in the third quarter valued at about $239,000. Finally, Caxton Associates LP acquired a new position in shares of Titan Machinery in the third quarter valued at about $257,000. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Titan Machinery Company Profile

Titan Machinery Inc owns and operates a network of full service agricultural and construction equipment stores in the United States, Europe, and Australia. It operates through four segments: Agriculture, Construction, Europe, and Australia. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH Industrial family of brands, as well as equipment from various other manufacturers.