Powell Industries, Inc. (NASDAQ:POWL) Sees Significant Growth in Short Interest

Powell Industries, Inc. (NASDAQ:POWL) was the recipient of a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 145,900 shares, an increase of 27.5% from the June 30th total of 114,400 shares. Approximately 1.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 43,100 shares, the days-to-cover ratio is presently 3.4 days.

In other Powell Industries news, Director Bonnie V. Hancock sold 2,000 shares of Powell Industries stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $37.89, for a total value of $75,780.00. Following the transaction, the director now owns 17,300 shares in the company, valued at $655,497. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 23.90% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA boosted its stake in Powell Industries by 346.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,851 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 1,436 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Powell Industries during the 1st quarter valued at $57,000. Bank of Montreal Can boosted its stake in shares of Powell Industries by 45.2% during the 2nd quarter. Bank of Montreal Can now owns 2,411 shares of the industrial products company’s stock valued at $92,000 after buying an additional 750 shares during the period. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Powell Industries during the 4th quarter valued at $62,000. Finally, KBC Group NV acquired a new stake in shares of Powell Industries during the 2nd quarter valued at $106,000. 64.26% of the stock is owned by hedge funds and other institutional investors.

POWL has been the topic of several recent research reports. CJS Securities upgraded shares of Powell Industries from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 9th. BidaskClub lowered shares of Powell Industries from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th.

Powell Industries stock traded down $1.29 during midday trading on Wednesday, reaching $36.90. The stock had a trading volume of 34,111 shares, compared to its average volume of 35,912. The firm has a fifty day moving average of $37.06. Powell Industries has a twelve month low of $22.55 and a twelve month high of $40.95. The firm has a market cap of $438.15 million, a price-to-earnings ratio of 80.60 and a beta of 1.21.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.24. Powell Industries had a net margin of 0.97% and a return on equity of 1.87%. The firm had revenue of $135.60 million during the quarter, compared to analyst estimates of $132.31 million. During the same quarter last year, the business posted $0.03 EPS. The company’s revenue was up 11.1% on a year-over-year basis.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Tuesday, August 20th.

Powell Industries Company Profile

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems for the distribution, control, and monitoring of electrical energy. The company's principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.

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