US Xpress Enterprises Inc (NYSE:USX) Short Interest Down 13.5% in August

US Xpress Enterprises Inc (NYSE:USX) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 1,860,000 shares, a drop of 13.5% from the August 15th total of 2,150,000 shares. Currently, 10.2% of the company’s shares are short sold. Based on an average daily trading volume, of 449,400 shares, the days-to-cover ratio is currently 4.1 days.

In other news, insider Lisa M. Pate sold 3,261 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $11.01, for a total transaction of $35,903.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lisa M. Pate sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $6.11, for a total transaction of $611,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 161,805 shares of company stock valued at $1,190,331. Insiders own 29.79% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bridgeway Capital Management Inc. grew its position in shares of US Xpress Enterprises by 28.4% during the 2nd quarter. Bridgeway Capital Management Inc. now owns 359,600 shares of the company’s stock valued at $2,158,000 after acquiring an additional 79,600 shares during the period. FMR LLC bought a new position in US Xpress Enterprises in the 2nd quarter worth approximately $1,685,000. Charles Schwab Investment Management Inc. boosted its holdings in US Xpress Enterprises by 39.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 64,165 shares of the company’s stock worth $385,000 after buying an additional 18,006 shares during the period. Sei Investments Co. boosted its holdings in US Xpress Enterprises by 5.6% in the 2nd quarter. Sei Investments Co. now owns 595,552 shares of the company’s stock worth $3,573,000 after buying an additional 31,324 shares during the period. Finally, State of Wisconsin Investment Board bought a new position in US Xpress Enterprises in the 2nd quarter worth approximately $101,000. Institutional investors own 33.40% of the company’s stock.

Several analysts recently issued reports on the stock. Zacks Investment Research raised shares of US Xpress Enterprises from a “hold” rating to a “buy” rating and set a $5.75 price target for the company in a research report on Thursday, June 4th. JPMorgan Chase & Co. lifted their price target on shares of US Xpress Enterprises from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. BofA Securities raised shares of US Xpress Enterprises from a “neutral” rating to a “buy” rating and lifted their price target for the company from $7.00 to $9.00 in a research report on Wednesday, July 29th. Bank of America raised shares of US Xpress Enterprises from a “neutral” rating to a “buy” rating and lifted their price target for the company from $7.00 to $9.00 in a research report on Wednesday, July 29th. Finally, ValuEngine downgraded shares of US Xpress Enterprises from a “buy” rating to a “hold” rating in a research report on Thursday, July 2nd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $8.25.

NYSE:USX traded down $0.16 during trading hours on Friday, hitting $7.83. 751,756 shares of the company traded hands, compared to its average volume of 351,216. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 2.09. The firm’s 50-day simple moving average is $9.66 and its 200-day simple moving average is $5.96. US Xpress Enterprises has a one year low of $2.65 and a one year high of $11.34. The company has a market cap of $388.39 million, a PE ratio of -32.63 and a beta of 2.24.

US Xpress Enterprises (NYSE:USX) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.33. US Xpress Enterprises had a negative return on equity of 0.86% and a negative net margin of 0.62%. The business had revenue of $422.48 million for the quarter, compared to analysts’ expectations of $420.27 million. As a group, equities research analysts expect that US Xpress Enterprises will post 0.48 EPS for the current year.

About US Xpress Enterprises

U.S. Xpress Enterprises, Inc operates as an asset-based truckload carrier providing services primarily in the United States. It operates through two segments, Truckload and Brokerage. The Truckload segment offers asset-based truckload services, including the over-the-road and contract services. The Brokerage segment provides non-asset-based freight brokerage services.

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