Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Short Interest Up 71.3% in June

Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) was the recipient of a significant increase in short interest in June. As of June 15th, there was short interest totalling 1,730,000 shares, an increase of 71.3% from the May 31st total of 1,010,000 shares. Based on an average daily volume of 393,200 shares, the short-interest ratio is presently 4.4 days. Approximately 2.7% of the shares of the stock are short sold.

Great Lakes Dredge & Dock Stock Performance

Shares of GLDD traded down $0.11 during trading hours on Friday, reaching $8.78. 945,777 shares of the company traded hands, compared to its average volume of 383,968. Great Lakes Dredge & Dock has a 12-month low of $6.11 and a 12-month high of $9.78. The company has a quick ratio of 1.06, a current ratio of 1.25 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $588.35 million, a P/E ratio of 15.40, a P/E/G ratio of 0.35 and a beta of 1.14. The business has a fifty day moving average price of $8.66 and a 200-day moving average price of $8.30.

Great Lakes Dredge & Dock (NASDAQ:GLDD) last issued its quarterly earnings data on Tuesday, May 7th. The construction company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.25. The business had revenue of $198.66 million during the quarter, compared to the consensus estimate of $176.45 million. Great Lakes Dredge & Dock had a net margin of 6.05% and a return on equity of 8.83%. Equities analysts anticipate that Great Lakes Dredge & Dock will post 0.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GLDD. AXQ Capital LP purchased a new position in Great Lakes Dredge & Dock in the 3rd quarter valued at approximately $92,000. Quadrature Capital Ltd acquired a new position in Great Lakes Dredge & Dock during the fourth quarter worth about $113,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Great Lakes Dredge & Dock by 23.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,955 shares of the construction company’s stock worth $123,000 after buying an additional 3,011 shares during the period. Bayesian Capital Management LP purchased a new stake in shares of Great Lakes Dredge & Dock in the first quarter valued at about $137,000. Finally, ELCO Management Co. LLC purchased a new position in shares of Great Lakes Dredge & Dock during the third quarter valued at approximately $159,000. 89.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Thursday, June 20th.

About Great Lakes Dredge & Dock

Great Lakes Dredge & Dock Corporation provides dredging services in the United States. The company engages in capital dredging that consists of port expansion projects; coastal restoration and land reclamations; trench digging for pipelines, tunnels, and cables; and other dredging related to the construction of breakwaters, jetties, canals, and other marine structures.