Shares of Titan International Inc (NYSE:TWI) rose 5.9% during trading on Wednesday . The stock traded as high as $3.25 and last traded at $3.21. Approximately 432,900 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 581,143 shares. The stock had previously closed at $3.03.
TWI has been the topic of several research reports. Zacks Investment Research raised shares of Titan International from a “sell” rating to a “hold” rating in a research report on Thursday, August 13th. William Blair reaffirmed a “market perform” rating on shares of Titan International in a research report on Thursday, August 6th.
The company has a market capitalization of $195.57 million, a price-to-earnings ratio of -2.60 and a beta of 2.18. The stock has a fifty day simple moving average of $2.29 and a 200-day simple moving average of $1.68. The company has a debt-to-equity ratio of 2.62, a current ratio of 2.15 and a quick ratio of 1.16.
Several hedge funds have recently made changes to their positions in TWI. Cordasco Financial Network purchased a new position in shares of Titan International during the 2nd quarter worth $28,000. First Heartland Consultants Inc. acquired a new stake in Titan International during the 2nd quarter worth $30,000. Royal Bank of Canada acquired a new stake in Titan International during the 1st quarter worth $30,000. GSA Capital Partners LLP purchased a new position in Titan International during the 1st quarter worth $34,000. Finally, AQR Capital Management LLC acquired a new position in Titan International in the second quarter valued at $37,000. 68.91% of the stock is owned by institutional investors and hedge funds.
About Titan International (NYSE:TWI)
Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in North America, Europe, Latin America, the Commonwealth of Independent States region, and internationally. The company operates in three segments: Agricultural, Earthmoving/Construction, and Consumer.
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