Short Interest in Manitex International, Inc. (NASDAQ:MNTX) Declines By 27.0%

Manitex International, Inc. (NASDAQ:MNTX) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 122,400 shares, a drop of 27.0% from the March 31st total of 167,600 shares. Approximately 0.9% of the company’s stock are short sold. Based on an average daily trading volume, of 56,400 shares, the days-to-cover ratio is currently 2.2 days.

Manitex International Stock Down 1.8 %

NASDAQ:MNTX traded down $0.10 during trading hours on Friday, hitting $5.45. 42,811 shares of the company traded hands, compared to its average volume of 39,926. The company has a quick ratio of 0.68, a current ratio of 1.57 and a debt-to-equity ratio of 0.86. The company has a market cap of $110.47 million, a PE ratio of 15.14 and a beta of 0.79. The firm’s 50-day simple moving average is $6.39 and its 200-day simple moving average is $6.67. Manitex International has a one year low of $3.72 and a one year high of $9.16.

Manitex International (NASDAQ:MNTX) last announced its earnings results on Thursday, February 29th. The industrial products company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.12 by $0.19. Manitex International had a net margin of 2.52% and a return on equity of 16.98%. The company had revenue of $78.65 million during the quarter, compared to the consensus estimate of $74.83 million. Equities analysts predict that Manitex International will post 0.39 earnings per share for the current year.

Hedge Funds Weigh In On Manitex International

Several hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new position in shares of Manitex International in the fourth quarter valued at approximately $27,000. My Personal CFO LLC purchased a new position in Manitex International in the fourth quarter worth $87,000. Ritholtz Wealth Management bought a new position in Manitex International in the 4th quarter valued at $111,000. First Eagle Investment Management LLC increased its position in shares of Manitex International by 16.3% during the 3rd quarter. First Eagle Investment Management LLC now owns 301,084 shares of the industrial products company’s stock valued at $1,406,000 after purchasing an additional 42,261 shares during the last quarter. Finally, Kennedy Capital Management LLC raised its stake in shares of Manitex International by 2.3% during the 3rd quarter. Kennedy Capital Management LLC now owns 315,641 shares of the industrial products company’s stock worth $1,474,000 after purchasing an additional 7,123 shares during the period. Institutional investors own 46.01% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Manitex International from a “hold” rating to a “buy” rating in a report on Saturday, March 9th.

Manitex International Company Profile

Manitex International, Inc provides engineered lifting solutions in the United States, Italy, Canada, Chile, France, and internationally. The company designs, manufactures, and distributes products that are used in various industries. It also offers boom trucks, truck cranes, and sign cranes products primarily for use in industrial projects, energy exploration, and infrastructure development comprising roads, bridges, and commercial construction; and truck-mounted aerial platforms.