Schmitt Industries, Inc. (NASDAQ:SMIT) Short Interest Update

Schmitt Industries, Inc. (NASDAQ:SMIT) saw a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 28,300 shares, a decrease of 25.5% from the September 15th total of 38,000 shares. Based on an average trading volume of 27,200 shares, the short-interest ratio is presently 1.0 days. Currently, 0.8% of the shares of the stock are sold short.

SMIT stock opened at $5.10 on Friday. The firm has a market capitalization of $19.14 million, a P/E ratio of 5.43 and a beta of 0.86. The company’s 50 day simple moving average is $5.03 and its 200-day simple moving average is $3.80. Schmitt Industries has a 52-week low of $2.12 and a 52-week high of $5.36.

Schmitt Industries (NASDAQ:SMIT) last announced its quarterly earnings results on Monday, August 31st. The scientific and technical instruments company reported ($0.14) EPS for the quarter. Schmitt Industries had a negative return on equity of 5.02% and a net margin of 59.86%. The business had revenue of $0.97 million for the quarter.

Separately, ValuEngine raised shares of Schmitt Industries from a “sell” rating to a “hold” rating in a research note on Monday, August 3rd.

Schmitt Industries Company Profile

Schmitt Industries, Inc, together with its subsidiaries, designs, manufactures, and sells test and measurement products worldwide. The company's Balancer segment offers computer-controlled vibration detection, balancing, and process control systems. Its products comprise SB-5500, an optional acoustic emission monitoring system (AEMS) control card to monitor the AE signals generated on the grinding machine; process control cards to provide enhanced control of the grinding process; SB-2000, a compact manual balancing system; and AE-1000, an AE control platform, which reduces air machine grinding time under the Schmitt Dynamic Balance System brand name.

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