Unique Fabricating, Inc. (NYSEAMERICAN:UFAB) Sees Large Increase in Short Interest

Unique Fabricating, Inc. (NYSEAMERICAN:UFAB) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 543,100 shares, a growth of 621.2% from the September 15th total of 75,300 shares. Based on an average trading volume of 939,200 shares, the days-to-cover ratio is currently 0.6 days. Approximately 8.6% of the company’s shares are sold short.

In other news, major shareholder Fund V. Limited Partn Peninsula purchased 150,000 shares of the stock in a transaction that occurred on Tuesday, September 21st. The stock was purchased at an average price of $2.25 per share, for a total transaction of $337,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.58% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Stanley boosted its position in shares of Unique Fabricating by 118.9% during the 1st quarter. Morgan Stanley now owns 6,130 shares of the auto parts company’s stock worth $36,000 after purchasing an additional 3,330 shares during the period. Citadel Advisors LLC purchased a new position in Unique Fabricating in the 1st quarter valued at approximately $70,000. BlackRock Inc. boosted its position in Unique Fabricating by 11.7% in the 1st quarter. BlackRock Inc. now owns 23,943 shares of the auto parts company’s stock valued at $143,000 after buying an additional 2,508 shares during the period. Geode Capital Management LLC boosted its position in Unique Fabricating by 139.6% in the 2nd quarter. Geode Capital Management LLC now owns 30,623 shares of the auto parts company’s stock valued at $113,000 after buying an additional 17,844 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Unique Fabricating by 8.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 36,681 shares of the auto parts company’s stock worth $202,000 after purchasing an additional 3,005 shares during the last quarter. Institutional investors and hedge funds own 21.95% of the company’s stock.

Separately, Zacks Investment Research lowered shares of Unique Fabricating from a “hold” rating to a “strong sell” rating in a report on Saturday, October 9th.

Shares of UFAB stock traded up $0.10 during mid-day trading on Thursday, hitting $3.29. 4,400 shares of the stock were exchanged, compared to its average volume of 376,444. The firm has a market cap of $32.18 million, a P/E ratio of -11.39 and a beta of 1.64. Unique Fabricating has a 52-week low of $2.31 and a 52-week high of $7.51.

Unique Fabricating (NYSEAMERICAN:UFAB) last released its quarterly earnings data on Thursday, August 12th. The auto parts company reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.10). The business had revenue of $30.90 million during the quarter, compared to analyst estimates of $32.00 million. Unique Fabricating had a negative net margin of 1.97% and a negative return on equity of 8.17%. On average, research analysts expect that Unique Fabricating will post -0.03 EPS for the current year.

About Unique Fabricating

Unique Fabricating, Inc engages in the engineering, manufacture and sale of foam, rubber and plastic components. Its products are used in noise, vibration and harshness, acoustical management, water and air sealing, decorative and other functional applications. The company was founded in 1975 and is headquartered in Auburn Hills, MI.

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