Short Interest in Arrow Electronics, Inc. (NYSE:ARW) Grows By 7.3%

Arrow Electronics, Inc. (NYSE:ARW - Get Free Report) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 2,950,000 shares, a growth of 7.3% from the December 31st total of 2,750,000 shares. Approximately 5.7% of the shares of the stock are short sold. Based on an average trading volume of 409,800 shares, the short-interest ratio is currently 7.2 days.

Arrow Electronics Price Performance

Shares of Arrow Electronics stock traded down $2.57 during mid-day trading on Friday, reaching $107.15. 1,097,258 shares of the stock traded hands, compared to its average volume of 505,162. The company has a quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average of $116.32 and a 200 day moving average of $123.50. The stock has a market capitalization of $5.63 billion, a PE ratio of 11.96 and a beta of 1.26. Arrow Electronics has a fifty-two week low of $105.00 and a fifty-two week high of $137.80.

Arrow Electronics (NYSE:ARW - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported $2.97 earnings per share for the quarter, beating analysts' consensus estimates of $2.80 by $0.17. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. On average, analysts predict that Arrow Electronics will post 10.26 EPS for the current year.

Hedge Funds Weigh In On Arrow Electronics

A number of institutional investors and hedge funds have recently bought and sold shares of ARW. BOK Financial Private Wealth Inc. acquired a new stake in Arrow Electronics in the 4th quarter valued at about $25,000. True Wealth Design LLC purchased a new stake in shares of Arrow Electronics in the third quarter valued at approximately $31,000. Brooklyn Investment Group acquired a new stake in shares of Arrow Electronics in the third quarter valued at approximately $40,000. Principal Securities Inc. lifted its position in Arrow Electronics by 35.7% during the fourth quarter. Principal Securities Inc. now owns 479 shares of the technology company's stock worth $54,000 after buying an additional 126 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in Arrow Electronics by 24.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 568 shares of the technology company's stock worth $64,000 after buying an additional 112 shares during the last quarter. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on ARW. Wells Fargo & Company reduced their price target on Arrow Electronics from $100.00 to $98.00 and set an "underweight" rating for the company in a report on Friday. Raymond James reduced their target price on Arrow Electronics from $140.00 to $135.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. Truist Financial dropped their price target on shares of Arrow Electronics from $141.00 to $120.00 and set a "hold" rating on the stock in a research note on Friday, November 1st. Finally, Bank of America cut shares of Arrow Electronics from a "neutral" rating to an "underperform" rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $121.25.

Arrow Electronics Company Profile

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.