The Shyft Group, Inc. (NASDAQ:SHYF) Short Interest Down 25.7% in January

The Shyft Group, Inc. (NASDAQ:SHYF - Get Free Report) saw a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 331,800 shares, a drop of 25.7% from the January 15th total of 446,500 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average daily volume of 226,300 shares, the short-interest ratio is presently 1.5 days.

Institutional Investors Weigh In On The Shyft Group

Institutional investors have recently made changes to their positions in the stock. PharVision Advisers LLC bought a new stake in shares of The Shyft Group during the 4th quarter valued at $268,000. Squarepoint Ops LLC purchased a new position in The Shyft Group during the 4th quarter valued at about $429,000. Point72 Asset Management L.P. increased its position in shares of The Shyft Group by 394.7% during the fourth quarter. Point72 Asset Management L.P. now owns 9,186 shares of the company's stock valued at $108,000 after buying an additional 7,329 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of The Shyft Group by 30.3% in the fourth quarter. Nuveen Asset Management LLC now owns 496,516 shares of the company's stock worth $5,829,000 after buying an additional 115,430 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of The Shyft Group by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,391 shares of the company's stock valued at $228,000 after acquiring an additional 836 shares during the period. Hedge funds and other institutional investors own 85.84% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Roth Mkm reiterated a "buy" rating and issued a $16.00 price objective on shares of The Shyft Group in a research note on Tuesday, December 17th. DA Davidson raised The Shyft Group from a "neutral" rating to a "buy" rating and set a $15.00 price target on the stock in a research report on Wednesday, January 15th.

The Shyft Group Stock Performance

Shares of SHYF traded up $0.20 during trading hours on Tuesday, hitting $12.41. The company's stock had a trading volume of 190,336 shares, compared to its average volume of 188,891. The business has a 50 day simple moving average of $11.90 and a two-hundred day simple moving average of $12.70. The Shyft Group has a 52-week low of $9.81 and a 52-week high of $17.56. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.82 and a quick ratio of 1.16. The company has a market cap of $428.02 million, a price-to-earnings ratio of -103.42 and a beta of 1.66.

The Shyft Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, February 27th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $0.20 dividend on an annualized basis and a yield of 1.61%. The Shyft Group's dividend payout ratio is -166.67%.

The Shyft Group Company Profile

The Shyft Group, Inc engages in the manufacture and assembly of specialty vehicles for the commercial and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment offers commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.