Short Interest in Smith-Midland Co. (NASDAQ:SMID) Rises By 71.3%

Smith-Midland Co. (NASDAQ:SMID) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 232,300 shares, an increase of 71.3% from the June 30th total of 135,600 shares. Currently, 5.2% of the company’s shares are sold short. Based on an average trading volume of 34,600 shares, the days-to-cover ratio is presently 6.7 days.

Insiders Place Their Bets

In other Smith-Midland news, Director Richard Gerhardt sold 1,334 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $36.50, for a total transaction of $48,691.00. Following the completion of the sale, the director now owns 5,797 shares of the company’s stock, valued at $211,590.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Smith-Midland

A number of institutional investors have recently modified their holdings of SMID. Victory Capital Management Inc. acquired a new stake in shares of Smith-Midland in the fourth quarter valued at $148,000. Bank of New York Mellon Corp acquired a new position in Smith-Midland during the 2nd quarter worth $325,000. Buckingham Capital Management Inc. acquired a new position in Smith-Midland during the 4th quarter worth $395,000. Vanguard Group Inc. grew its stake in Smith-Midland by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 202,086 shares of the company’s stock worth $9,494,000 after purchasing an additional 1,277 shares in the last quarter. Finally, Thompson Davis & CO. Inc. grew its stake in Smith-Midland by 7.3% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,667,429 shares of the company’s stock worth $46,171,000 after purchasing an additional 113,313 shares in the last quarter. 49.94% of the stock is owned by institutional investors and hedge funds.

Smith-Midland Trading Up 5.3 %

Shares of NASDAQ SMID traded up $1.76 during trading on Friday, reaching $34.70. The stock had a trading volume of 29,542 shares, compared to its average volume of 56,507. Smith-Midland has a fifty-two week low of $16.83 and a fifty-two week high of $48.87. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.65 and a current ratio of 2.05. The business’s 50-day moving average price is $32.30 and its 200-day moving average price is $37.35. The company has a market cap of $183.91 million, a P/E ratio of 102.06 and a beta of 1.27.

Smith-Midland (NASDAQ:SMID) last issued its quarterly earnings data on Tuesday, June 11th. The company reported $0.21 earnings per share for the quarter. Smith-Midland had a return on equity of 5.48% and a net margin of 2.93%. The business had revenue of $16.76 million during the quarter.

Smith-Midland Company Profile

Smith-Midland Corporation, through its subsidiaries, invents, develops, manufactures, markets, leases, licenses, sells, and installs precast concrete products and systems primarily for use in the construction, highway, utilities, and farming industries. It offers SlenderWall, a patented, lightweight, energy efficient concrete and steel exterior wall panel for use in building construction; Sierra Wall that provides sound and sight barrier for use alongside highways around residential, industrial, and commercial properties; J-J Hooks highway safety barriers for use on roadways to separate lanes of traffic in construction work zone or traffic control purposes; and Easi-Set precast building and Easi-Span expandable precast buildings for use in housing communications operations, traffic control systems, and mechanical and electrical stations.