Short Interest in Servotronics, Inc. (NYSEAMERICAN:SVT) Drops By 56.0%

Servotronics, Inc. (NYSEAMERICAN:SVT) was the target of a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 2,200 shares, a decrease of 56.0% from the September 30th total of 5,000 shares. Based on an average trading volume of 4,200 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.3% of the shares of the stock are sold short.

Servotronics Stock Performance

NYSEAMERICAN:SVT traded down $0.16 during midday trading on Friday, hitting $11.50. The company had a trading volume of 1,165 shares, compared to its average volume of 4,027. Servotronics has a 52-week low of $8.80 and a 52-week high of $14.10. The firm has a market capitalization of $29.44 million, a PE ratio of 71.88 and a beta of 0.56.

Servotronics (NYSEAMERICAN:SVT) last announced its quarterly earnings data on Thursday, August 8th. The conglomerate reported $0.22 earnings per share for the quarter. The company had revenue of $12.27 million for the quarter. Servotronics had a return on equity of 3.13% and a net margin of 0.93%.

Insiders Place Their Bets

In related news, insider James C. Takacs sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $12.55, for a total value of $43,925.00. Following the transaction, the insider now directly owns 13,113 shares in the company, valued at approximately $164,568.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 33.90% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Servotronics stock. Oppenheimer & Close LLC increased its position in Servotronics, Inc. (NYSEAMERICAN:SVT) by 7.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 108,094 shares of the conglomerate’s stock after buying an additional 7,367 shares during the quarter. Servotronics accounts for approximately 1.3% of Oppenheimer & Close LLC’s holdings, making the stock its 26th biggest holding. Oppenheimer & Close LLC owned about 4.24% of Servotronics worth $1,486,000 at the end of the most recent reporting period. Institutional investors own 24.77% of the company’s stock.

About Servotronics

Servotronics, Inc designs, manufactures, and markets servo-control components and other technology products for aerospace, military, and medical applications in the United States and internationally. It offers high-performance servo valves, including torque motor, hydraulic, and pneumatic valves. The company offers its products to products are sold to commercial aerospace, government, medical, and industrial markets.