Resideo Technologies Inc (NYSE:REZI) was the recipient of a large decline in short interest during the month of June. As of June 30th, there was short interest totalling 3,794,300 shares, a decline of 14.5% from the May 30th total of 4,439,100 shares. Based on an average trading volume of 953,500 shares, the days-to-cover ratio is currently 4.0 days. Currently, 3.1% of the company’s shares are sold short.
A number of research firms recently commented on REZI. Zacks Investment Research upgraded shares of General Moly from a “sell” rating to a “hold” rating in a report on Thursday. Imperial Capital reiterated an “outperform” rating and set a $26.00 price target (up from $24.00) on shares of Resideo Technologies in a report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $26.00.
Resideo Technologies stock traded up $0.02 during mid-day trading on Friday, reaching $21.50. 862,322 shares of the company traded hands, compared to its average volume of 965,215. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.19 and a quick ratio of 0.74. The stock’s 50 day moving average price is $20.85. The stock has a market capitalization of $2.64 billion and a price-to-earnings ratio of 8.70. Resideo Technologies has a 52-week low of $17.60 and a 52-week high of $28.67.
In other news, CFO Joseph Douglas Ragan III purchased 6,300 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was bought at an average cost of $20.05 per share, for a total transaction of $126,315.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Stephen Montgomery Kelly purchased 2,530 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were purchased at an average price of $19.67 per share, with a total value of $49,765.10. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 20,081 shares of company stock valued at $407,126. Company insiders own 0.09% of the company’s stock.
Institutional investors have recently modified their holdings of the business. LPL Financial LLC bought a new position in shares of Resideo Technologies in the fourth quarter worth about $750,000. California Public Employees Retirement System bought a new position in Resideo Technologies during the fourth quarter valued at about $4,189,000. New York State Common Retirement Fund bought a new position in Resideo Technologies during the fourth quarter valued at about $5,801,000. BlackRock Inc. bought a new position in Resideo Technologies during the fourth quarter valued at about $209,847,000. Finally, Bank of New York Mellon Corp bought a new position in Resideo Technologies during the fourth quarter valued at about $27,797,000. 74.65% of the stock is currently owned by institutional investors and hedge funds.
About Resideo Technologies
Resideo Technologies, Inc provides critical comfort, thermal, and security solutions primarily in residential environments in the United States, Europe, and internationally. The company operates in two segments, Products and Solutions, and Global Distribution. It offers home products, services, and technologies, including temperature and humidity control, water, air, remote patient monitoring software, and software solutions; and residential thermal solutions, such as boiler products, storage gas water heating solutions, ducted solutions, and thermal adjacency solutions.
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