Raven Industries, Inc. (NASDAQ:RAVN) Sees Significant Growth in Short Interest

Raven Industries, Inc. (NASDAQ:RAVN) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 316,200 shares, a growth of 25.4% from the September 30th total of 252,100 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average trading volume of 100,400 shares, the short-interest ratio is currently 3.1 days.

Several research analysts have weighed in on RAVN shares. ValuEngine upgraded shares of Raven Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. BidaskClub upgraded shares of Raven Industries from a “sell” rating to a “hold” rating in a research report on Monday, September 16th.

Several institutional investors have recently added to or reduced their stakes in RAVN. Morgan Stanley lifted its holdings in shares of Raven Industries by 298.8% in the 2nd quarter. Morgan Stanley now owns 353,840 shares of the conglomerate’s stock worth $12,696,000 after acquiring an additional 265,113 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in Raven Industries during the 2nd quarter valued at about $5,306,000. Renaissance Technologies LLC lifted its holdings in Raven Industries by 36.5% during the 2nd quarter. Renaissance Technologies LLC now owns 384,116 shares of the conglomerate’s stock valued at $13,782,000 after buying an additional 102,716 shares in the last quarter. Bamco Inc. NY lifted its holdings in Raven Industries by 8.2% during the 2nd quarter. Bamco Inc. NY now owns 763,253 shares of the conglomerate’s stock valued at $27,386,000 after buying an additional 58,153 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Raven Industries by 0.7% during the 2nd quarter. BlackRock Inc. now owns 5,223,895 shares of the conglomerate’s stock valued at $187,435,000 after buying an additional 34,298 shares in the last quarter. Hedge funds and other institutional investors own 74.84% of the company’s stock.

Shares of NASDAQ RAVN traded down $0.43 during midday trading on Friday, reaching $34.26. The stock had a trading volume of 124,900 shares, compared to its average volume of 94,060. The stock has a 50-day moving average of $33.70 and a 200-day moving average of $34.26. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 32.69 and a beta of 1.44. Raven Industries has a 12-month low of $27.32 and a 12-month high of $44.30.

Raven Industries (NASDAQ:RAVN) last released its earnings results on Thursday, August 22nd. The conglomerate reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.10). The firm had revenue of $98.06 million during the quarter. Raven Industries had a return on equity of 12.51% and a net margin of 9.76%.

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.52 annualized dividend and a dividend yield of 1.52%.

About Raven Industries

Raven Industries, Inc, a technology company, provides various products to customers in the industrial, agricultural, geomembrane, construction, commercial lighter-than-air, and aerospace and defense markets worldwide. It operates through three segments: Applied Technology, Engineered Films, and Aerostar.

Recommended Story: What is the Bid-Ask Spread?

Receive News & Ratings for Raven Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raven Industries and related companies with MarketBeat.com's FREE daily email newsletter.