Short Interest in Exfo Inc (NASDAQ:EXFO) Declines By 22.5%

Exfo Inc (NASDAQ:EXFO) (TSE:EXF) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 8,600 shares, a drop of 22.5% from the July 31st total of 11,100 shares. Based on an average daily volume of 18,900 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.1% of the shares of the company are short sold.

Shares of EXFO stock traded down $0.12 on Thursday, hitting $3.71. 2,456 shares of the stock were exchanged, compared to its average volume of 26,755. The company has a current ratio of 1.42, a quick ratio of 0.97 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $207.44 million, a PE ratio of 41.22 and a beta of 1.11. Exfo has a one year low of $2.66 and a one year high of $4.97. The firm’s 50 day moving average is $3.73 and its two-hundred day moving average is $3.90.

Exfo (NASDAQ:EXFO) (TSE:EXF) last posted its quarterly earnings results on Wednesday, July 10th. The communications equipment provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). The firm had revenue of $73.59 million for the quarter, compared to the consensus estimate of $74.40 million. Exfo had a positive return on equity of 3.65% and a negative net margin of 2.17%. On average, sell-side analysts expect that Exfo will post 0.17 earnings per share for the current year.



Hedge funds have recently bought and sold shares of the company. White Pine Capital LLC grew its stake in shares of Exfo by 41.4% during the 1st quarter. White Pine Capital LLC now owns 454,815 shares of the communications equipment provider’s stock worth $1,674,000 after acquiring an additional 133,200 shares during the period. Brandes Investment Partners LP bought a new position in shares of Exfo during the 2nd quarter worth $778,000. Global Alpha Capital Management Ltd. bought a new position in shares of Exfo during the 2nd quarter worth $96,000. Royal Bank of Canada grew its stake in shares of Exfo by 33.6% during the 2nd quarter. Royal Bank of Canada now owns 14,350 shares of the communications equipment provider’s stock worth $53,000 after acquiring an additional 3,611 shares during the period. Finally, BlackRock Inc. bought a new position in shares of Exfo during the 2nd quarter worth $107,000. Institutional investors own 11.20% of the company’s stock.

Several brokerages have recently issued reports on EXFO. Northland Securities reaffirmed a “buy” rating and set a $5.50 target price on shares of Exfo in a research report on Thursday, July 11th. ValuEngine lowered Exfo from a “buy” rating to a “hold” rating in a research report on Thursday, September 5th. Finally, Zacks Investment Research raised Exfo from a “sell” rating to a “hold” rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. Exfo currently has a consensus rating of “Hold” and a consensus price target of $4.30.

Exfo Company Profile

EXFO Inc develops, manufactures, and markets smarter network test, monitoring, and analytics solutions for communications service providers, network equipment manufacturers, and Web-scale operators. It offers field network testing products, such as copper/DSL testing, dispersion analysis, fiber inspection, live fiber detection, network protocol testing, optical power and loss testing, ORL tester, optical time domain reflectometry and iOLM, spectral testing, test function virtualization, and test reporting and automation products, as well as modular test platforms.

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