Generac Holdings Inc. (NYSE:GNRC) Sees Large Decrease in Short Interest

Generac Holdings Inc. (NYSE:GNRC) saw a large drop in short interest in March. As of March 15th, there was short interest totalling 2,250,000 shares, a drop of 22.4% from the February 28th total of 2,900,000 shares. Based on an average daily trading volume, of 831,100 shares, the short-interest ratio is currently 2.7 days. Approximately 3.8% of the company’s stock are sold short.

Generac Price Performance

GNRC stock traded down $1.15 during midday trading on Monday, hitting $125.95. The company’s stock had a trading volume of 257,104 shares, compared to its average volume of 886,729. The company has a quick ratio of 0.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.48. Generac has a 12 month low of $123.18 and a 12 month high of $195.94. The company has a 50 day moving average of $140.67 and a two-hundred day moving average of $157.80. The firm has a market capitalization of $7.51 billion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 1.44 and a beta of 1.50.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.31. Generac had a return on equity of 18.17% and a net margin of 7.36%. On average, analysts expect that Generac will post 8 EPS for the current year.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $145.15, for a total transaction of $725,750.00. Following the completion of the transaction, the chief executive officer now directly owns 565,825 shares in the company, valued at $82,129,498.75. This trade represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Hurley Capital LLC bought a new stake in Generac during the fourth quarter worth approximately $26,000. Modus Advisors LLC bought a new stake in Generac during the 4th quarter valued at $27,000. Versant Capital Management Inc raised its holdings in shares of Generac by 391.9% in the fourth quarter. Versant Capital Management Inc now owns 182 shares of the technology company’s stock valued at $28,000 after acquiring an additional 145 shares in the last quarter. Cranbrook Wealth Management LLC purchased a new stake in shares of Generac in the 4th quarter worth approximately $28,000. Finally, Brooklyn Investment Group purchased a new stake in Generac during the third quarter worth $31,000. 84.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GNRC has been the subject of several recent analyst reports. Bank of America started coverage on shares of Generac in a report on Monday, March 24th. They issued a “buy” rating and a $182.00 target price for the company. Barclays initiated coverage on Generac in a research note on Wednesday, December 4th. They set an “equal weight” rating and a $189.00 target price on the stock. Truist Financial decreased their price target on Generac from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Citigroup dropped their price objective on Generac from $172.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, UBS Group boosted their target price on Generac from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Generac has an average rating of “Moderate Buy” and an average price target of $174.38.

About Generac

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.