IES Holdings, Inc. (NASDAQ:IESC) Sees Large Growth in Short Interest

IES Holdings, Inc. (NASDAQ:IESC) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 456,500 shares, a growth of 7.3% from the May 31st total of 425,400 shares. Approximately 2.3% of the shares of the company are sold short. Based on an average trading volume of 160,900 shares, the days-to-cover ratio is presently 2.8 days.

Wall Street Analyst Weigh In

Separately, StockNews.com cut IES from a “strong-buy” rating to a “buy” rating in a report on Sunday.

IES Stock Performance

Shares of IES stock traded up $8.52 during trading on Wednesday, reaching $144.15. 80,733 shares of the company’s stock were exchanged, compared to its average volume of 127,284. IES has a 1-year low of $53.00 and a 1-year high of $184.38. The company has a market cap of $2.92 billion, a P/E ratio of 21.49 and a beta of 1.36. The firm’s 50-day moving average price is $146.50 and its 200 day moving average price is $116.01.

IES (NASDAQ:IESC) last posted its quarterly earnings results on Friday, May 3rd. The technology company reported $2.29 EPS for the quarter. IES had a return on equity of 30.22% and a net margin of 5.27%. The company had revenue of $705.80 million during the quarter.

Insider Transactions at IES

In other news, CEO Jeffrey L. Et Al Gendell sold 44,449 shares of IES stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $130.03, for a total transaction of $5,779,703.47. Following the completion of the transaction, the chief executive officer now directly owns 11,233,970 shares in the company, valued at approximately $1,460,753,119.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Matthew J. Simmes sold 14,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $170.52, for a total value of $2,387,280.00. Following the completion of the sale, the chief operating officer now directly owns 73,110 shares in the company, valued at approximately $12,466,717.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey L. Et Al Gendell sold 44,449 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $130.03, for a total value of $5,779,703.47. Following the completion of the sale, the chief executive officer now owns 11,233,970 shares of the company’s stock, valued at $1,460,753,119.10. The disclosure for this sale can be found here. In the last three months, insiders sold 133,757 shares of company stock worth $18,360,416. 59.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On IES

A number of institutional investors and hedge funds have recently bought and sold shares of IESC. Acadian Asset Management LLC acquired a new position in IES in the 3rd quarter worth about $41,000. Sunbelt Securities Inc. acquired a new position in IES in the 1st quarter worth about $48,000. EntryPoint Capital LLC increased its holdings in IES by 217.0% in the 1st quarter. EntryPoint Capital LLC now owns 1,065 shares of the technology company’s stock worth $130,000 after purchasing an additional 729 shares in the last quarter. Quest Partners LLC acquired a new position in IES in the 4th quarter worth about $134,000. Finally, Susquehanna Portfolio Strategies LLC acquired a new position in IES in the 1st quarter worth about $207,000. Institutional investors and hedge funds own 86.60% of the company’s stock.

About IES

IES Holdings, Inc engages in the design and installation of integrated electrical and technology systems, and provides infrastructure products and services in the United States. The Communications segment designs, installs, and maintains network infrastructure within data centers for co-location and managed hosting customers; corporate, educational, financial, hospitality, and healthcare buildings; e-commerce distribution centers; and high-tech manufacturing facilities.