Preformed Line Products (NASDAQ:PLPC) Sees Large Growth in Short Interest

Preformed Line Products (NASDAQ:PLPC - Get Free Report) saw a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 68,900 shares, a growth of 89.3% from the January 31st total of 36,400 shares. Based on an average daily trading volume, of 20,500 shares, the days-to-cover ratio is presently 3.4 days. Currently, 2.2% of the company's shares are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Preformed Line Products from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 25th.

Hedge Funds Weigh In On Preformed Line Products

Institutional investors have recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new stake in shares of Preformed Line Products in the 3rd quarter worth about $103,000. SG Americas Securities LLC boosted its stake in Preformed Line Products by 13.1% during the fourth quarter. SG Americas Securities LLC now owns 1,053 shares of the technology company's stock worth $135,000 after acquiring an additional 122 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Preformed Line Products by 28.7% in the fourth quarter. Wells Fargo & Company MN now owns 1,409 shares of the technology company's stock worth $180,000 after purchasing an additional 314 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Preformed Line Products by 13.1% during the third quarter. BNP Paribas Financial Markets now owns 2,371 shares of the technology company's stock valued at $304,000 after purchasing an additional 274 shares in the last quarter. Finally, Quest Partners LLC increased its stake in shares of Preformed Line Products by 62.4% during the third quarter. Quest Partners LLC now owns 2,554 shares of the technology company's stock valued at $327,000 after purchasing an additional 981 shares in the last quarter. Institutional investors own 41.19% of the company's stock.

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Preformed Line Products Stock Up 0.6 %

PLPC traded up $0.71 on Wednesday, hitting $123.19. The company had a trading volume of 18,557 shares, compared to its average volume of 25,478. The stock has a fifty day simple moving average of $134.08 and a 200-day simple moving average of $129.14. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 1.56. The firm has a market capitalization of $603.38 million, a P/E ratio of 18.50 and a beta of 0.63. Preformed Line Products has a 52-week low of $109.01 and a 52-week high of $154.90.

Preformed Line Products Company Profile

Preformed Line Products Company, together with its subsidiaries, designs and manufactures products and systems that are used in the construction and maintenance of overhead, ground-mounted, and underground networks for the energy, telecommunication, cable, data communication, and other industries. The company offers optical ground wire products to support, protect, terminate, and splice transmission and distribution lines, as well as bolted, welded, and compressed connectors for substations; and string hardware products, polymer insulators, wildlife protection, substation fittings, and motion control devices.