American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Short Interest Update

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 4,030,000 shares, a growth of 9.2% from the August 31st total of 3,690,000 shares. Based on an average daily trading volume, of 1,500,000 shares, the days-to-cover ratio is currently 2.7 days. Currently, 3.6% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of research firms recently commented on AXL. Wolfe Research upgraded American Axle & Manufacturing to a “hold” rating in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $6.00 price target on shares of American Axle & Manufacturing in a research report on Tuesday, September 10th. Finally, Bank of America upped their target price on American Axle & Manufacturing from $7.00 to $7.50 and gave the company an “underperform” rating in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, American Axle & Manufacturing currently has a consensus rating of “Hold” and an average price target of $7.10.

American Axle & Manufacturing Price Performance

Shares of American Axle & Manufacturing stock traded down $0.10 during trading on Tuesday, hitting $6.08. The stock had a trading volume of 1,737,740 shares, compared to its average volume of 1,576,504. American Axle & Manufacturing has a fifty-two week low of $5.43 and a fifty-two week high of $8.99. The firm has a market cap of $714.72 million, a P/E ratio of -86.86 and a beta of 1.95. The company has a debt-to-equity ratio of 4.42, a current ratio of 1.68 and a quick ratio of 1.30. The business has a fifty day moving average of $6.33 and a two-hundred day moving average of $6.95.

American Axle & Manufacturing (NYSE:AXL) last announced its earnings results on Friday, August 9th. The auto parts company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.11 by $0.08. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.59 billion. American Axle & Manufacturing had a return on equity of 3.47% and a net margin of 0.04%. American Axle & Manufacturing’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.12 earnings per share. On average, sell-side analysts expect that American Axle & Manufacturing will post 0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. nVerses Capital LLC bought a new position in shares of American Axle & Manufacturing in the 2nd quarter valued at approximately $41,000. Quarry LP boosted its stake in American Axle & Manufacturing by 159.2% in the second quarter. Quarry LP now owns 7,899 shares of the auto parts company’s stock worth $55,000 after purchasing an additional 4,851 shares in the last quarter. Headlands Technologies LLC acquired a new position in American Axle & Manufacturing in the second quarter worth $75,000. EntryPoint Capital LLC bought a new stake in shares of American Axle & Manufacturing during the first quarter worth $76,000. Finally, QRG Capital Management Inc. raised its position in shares of American Axle & Manufacturing by 13.5% during the second quarter. QRG Capital Management Inc. now owns 14,037 shares of the auto parts company’s stock worth $98,000 after acquiring an additional 1,665 shares during the last quarter. 91.41% of the stock is owned by institutional investors and hedge funds.

About American Axle & Manufacturing

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, and manufactures driveline and metal forming technologies that supports electric, hybrid, and internal combustion vehicles. It operates through two segments, Driveline and Metal Forming segments. The Driveline segment offers front and rear axles, driveshafts, differential assemblies, clutch modules, balance shaft systems, disconnecting driveline technology, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.