Titan Machinery Inc. (NASDAQ:TITN) Short Interest Down 15.9% in December

Titan Machinery Inc. (NASDAQ:TITN - Get Free Report) was the recipient of a large decrease in short interest in December. As of December 15th, there was short interest totalling 1,060,000 shares, a decrease of 15.9% from the November 30th total of 1,260,000 shares. Based on an average trading volume of 214,100 shares, the short-interest ratio is currently 5.0 days. Approximately 5.1% of the shares of the company are short sold.

Titan Machinery Price Performance

Shares of Titan Machinery stock traded down $0.26 during midday trading on Friday, hitting $13.87. 185,944 shares of the company were exchanged, compared to its average volume of 228,545. The firm has a 50 day simple moving average of $14.61 and a 200-day simple moving average of $14.90. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.32 and a quick ratio of 0.15. The firm has a market cap of $320.76 million, a P/E ratio of 10.35 and a beta of 1.30. Titan Machinery has a 52 week low of $12.30 and a 52 week high of $29.30.

Titan Machinery (NASDAQ:TITN - Get Free Report) last posted its earnings results on Tuesday, November 26th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.04. The business had revenue of $679.80 million for the quarter, compared to analyst estimates of $675.30 million. Titan Machinery had a net margin of 1.10% and a return on equity of 5.91%. The firm's quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.32 EPS. Research analysts forecast that Titan Machinery will post 0.05 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on TITN shares. Northland Securities reissued a "market perform" rating and set a $25.00 price objective on shares of Titan Machinery in a report on Friday, September 13th. B. Riley reduced their target price on Titan Machinery from $20.00 to $15.00 and set a "neutral" rating for the company in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Titan Machinery currently has an average rating of "Hold" and an average target price of $21.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp grew its holdings in Titan Machinery by 7.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 106,462 shares of the company's stock worth $1,693,000 after acquiring an additional 7,619 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Titan Machinery during the second quarter valued at approximately $218,000. nVerses Capital LLC increased its holdings in shares of Titan Machinery by 118.2% in the second quarter. nVerses Capital LLC now owns 2,400 shares of the company's stock valued at $38,000 after purchasing an additional 1,300 shares in the last quarter. Waterfront Wealth Inc. bought a new stake in Titan Machinery in the second quarter valued at about $177,000. Finally, Rhumbline Advisers lifted its stake in Titan Machinery by 2.9% in the second quarter. Rhumbline Advisers now owns 34,726 shares of the company's stock valued at $552,000 after buying an additional 987 shares during the period. 78.38% of the stock is owned by institutional investors and hedge funds.

Titan Machinery Company Profile

Titan Machinery Inc owns and operates a network of full service agricultural and construction equipment stores in the United States, Europe, and Australia. It operates through four segments: Agriculture, Construction, Europe, and Australia. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH Industrial family of brands, as well as equipment from various other manufacturers.