DNOW Inc. (NYSE:DNOW – Get Free Report) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 3,350,000 shares, a growth of 11.3% from the May 31st total of 3,010,000 shares. Approximately 3.2% of the shares of the stock are sold short. Based on an average daily volume of 839,300 shares, the short-interest ratio is presently 4.0 days.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the business. First Eagle Investment Management LLC raised its holdings in DNOW by 0.4% in the 1st quarter. First Eagle Investment Management LLC now owns 258,029 shares of the oil and gas company’s stock valued at $3,922,000 after acquiring an additional 1,000 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in DNOW by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 93,060 shares of the oil and gas company’s stock valued at $1,415,000 after acquiring an additional 1,205 shares during the last quarter. ProShare Advisors LLC raised its holdings in DNOW by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 21,473 shares of the oil and gas company’s stock valued at $326,000 after acquiring an additional 1,480 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of DNOW by 0.5% during the 1st quarter. Nordea Investment Management AB now owns 399,843 shares of the oil and gas company’s stock worth $6,166,000 after buying an additional 1,947 shares during the last quarter. Finally, New York State Teachers Retirement System increased its holdings in shares of DNOW by 1.2% during the 4th quarter. New York State Teachers Retirement System now owns 216,263 shares of the oil and gas company’s stock worth $2,448,000 after buying an additional 2,469 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.
DNOW Stock Down 1.7 %
Shares of DNOW stock traded down $0.24 during trading on Monday, hitting $13.49. 710,396 shares of the company were exchanged, compared to its average volume of 1,028,746. The firm has a 50 day moving average price of $13.97 and a 200 day moving average price of $13.01. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 6.22 and a beta of 1.45. DNOW has a fifty-two week low of $9.44 and a fifty-two week high of $15.57.
Analyst Ratings Changes
Several research analysts recently issued reports on DNOW shares. Stifel Nicolaus lifted their price objective on DNOW from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Susquehanna cut their price objective on DNOW from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Monday, May 13th.
Get Our Latest Stock Report on DNOW
About DNOW
DNOW Inc distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and customer on-site locations in the United States, Canada, and internationally. The company provides consumable maintenance, repair, and operating supplies; pipes, manual and automated valves, fittings, flanges, gaskets, fasteners, electrical instrumentations, artificial lift, pumping solutions, valve actuation and modular process, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as artificial lift systems, coatings, and miscellaneous expendable items.
Recommended Stories
- Five stocks we like better than DNOW
- What Are Dividend Challengers?
- These Top 3 Banks Raise Dividends After Passing Fed Stress Test
- Business Services Stocks Investing
- Hitch a Ride with Lyft Stock for Double-Digit Gains in 2nd Half
- How to Calculate Options Profits
- Eli Lilly Stock Up: GLP-1 Zepbound Targets Sleep Apnea Market
Receive News & Ratings for DNOW Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DNOW and related companies with MarketBeat.com's FREE daily email newsletter.