Short Interest in XPEL (NASDAQ:XPEL) Increases By 56.7%

XPEL (NASDAQ:XPEL) saw a large growth in short interest in the month of February. As of February 14th, there was short interest totalling 481,900 shares, a growth of 56.7% from the January 30th total of 307,500 shares. Based on an average trading volume of 218,500 shares, the days-to-cover ratio is currently 2.2 days. Approximately 3.3% of the shares of the company are short sold.

XPEL stock traded down $0.05 during trading hours on Wednesday, hitting $13.07. 225,200 shares of the company traded hands, compared to its average volume of 244,329. The company has a current ratio of 2.59, a quick ratio of 1.30 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $15.56. XPEL has a 1-year low of $4.19 and a 1-year high of $18.05.

Separately, B. Riley assumed coverage on XPEL in a research note on Wednesday, February 5th. They issued a “buy” rating and a $22.00 price target for the company.

Several hedge funds have recently added to or reduced their stakes in XPEL. UBS Group AG lifted its holdings in shares of XPEL by 705.9% in the fourth quarter. UBS Group AG now owns 2,055 shares of the company’s stock valued at $30,000 after buying an additional 1,800 shares during the period. Driehaus Capital Management LLC bought a new position in XPEL during the fourth quarter valued at about $161,000. Cubist Systematic Strategies LLC bought a new position in XPEL during the fourth quarter valued at about $202,000. Goldman Sachs Group Inc. acquired a new position in XPEL during the fourth quarter worth about $213,000. Finally, Manatuck Hill Partners LLC acquired a new position in XPEL during the fourth quarter worth about $224,000. Institutional investors own 13.75% of the company’s stock.

About XPEL

XPEL, Inc manufactures, sells, distributes, and installs after-market automotive products in the United States, Canada, the United Kingdom, and the Netherlands. The company offers paint protection films; headlight protection; automotive window films; and plotters. It also provides apparel, merchandise, aftercare products, paint protection films, microfiber products, install tools, and paint protection film install tolls through online.

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