Mesa Laboratories, Inc. (NASDAQ:MLAB) Sees Significant Growth in Short Interest

Mesa Laboratories, Inc. (NASDAQ:MLAB) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 220,900 shares, an increase of 16.6% from the August 15th total of 189,400 shares. Based on an average trading volume of 41,500 shares, the days-to-cover ratio is presently 5.3 days.

Mesa Laboratories Stock Down 0.1 %

Shares of NASDAQ MLAB traded down $0.14 during mid-day trading on Tuesday, reaching $122.80. The company had a trading volume of 49,307 shares, compared to its average volume of 43,510. The stock has a fifty day moving average of $119.33 and a two-hundred day moving average of $109.37. Mesa Laboratories has a 12-month low of $82.86 and a 12-month high of $141.17. The company has a market capitalization of $664.23 million, a price-to-earnings ratio of -2.61 and a beta of 0.85. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.37 and a current ratio of 1.94.

Mesa Laboratories (NASDAQ:MLAB) last announced its quarterly earnings results on Monday, August 5th. The medical instruments supplier reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.55. Mesa Laboratories had a positive return on equity of 18.95% and a negative net margin of 111.89%. The business had revenue of $58.17 million during the quarter, compared to analyst estimates of $55.90 million. As a group, equities research analysts expect that Mesa Laboratories will post 7.91 EPS for the current year.

Mesa Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $0.16 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a yield of 0.52%. Mesa Laboratories’s payout ratio is presently -1.36%.

Analyst Ratings Changes

A number of research firms recently commented on MLAB. Wells Fargo & Company started coverage on shares of Mesa Laboratories in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $120.00 price objective for the company. Evercore ISI raised their target price on Mesa Laboratories from $106.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 6th.

Insider Transactions at Mesa Laboratories

In other news, SVP Brian David Archbold sold 1,499 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $125.00, for a total transaction of $187,375.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Mesa Laboratories

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its holdings in Mesa Laboratories by 48.8% in the 4th quarter. BNP Paribas Financial Markets now owns 7,238 shares of the medical instruments supplier’s stock valued at $758,000 after buying an additional 2,374 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Mesa Laboratories by 515.6% in the fourth quarter. Quadrant Capital Group LLC now owns 277 shares of the medical instruments supplier’s stock worth $29,000 after acquiring an additional 232 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its position in Mesa Laboratories by 17.8% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 6,698 shares of the medical instruments supplier’s stock worth $702,000 after acquiring an additional 1,011 shares during the period. King Luther Capital Management Corp increased its position in Mesa Laboratories by 100.0% during the fourth quarter. King Luther Capital Management Corp now owns 27,781 shares of the medical instruments supplier’s stock worth $2,911,000 after acquiring an additional 13,890 shares during the period. Finally, Eagle Asset Management Inc. raised its stake in Mesa Laboratories by 2.9% during the 4th quarter. Eagle Asset Management Inc. now owns 115,277 shares of the medical instruments supplier’s stock valued at $12,078,000 after purchasing an additional 3,298 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

About Mesa Laboratories

Mesa Laboratories, Inc develops, manufactures, and sells life sciences tools and quality control products and services in North America, Europe, the Asia Pacific, and internationally. It operates in four segments: Clinical Genomics, Sterilization and Disinfection Control, Biopharmaceutical Development, and Calibration Solutions.