Titan International, Inc. (NYSE:TWI) Short Interest Up 22.0% in April

Titan International, Inc. (NYSE:TWI) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 1,330,000 shares, a growth of 22.0% from the March 31st total of 1,090,000 shares. Based on an average trading volume of 523,500 shares, the days-to-cover ratio is presently 2.5 days. Currently, 2.3% of the company’s stock are sold short.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley raised its stake in shares of Titan International by 498.1% in the fourth quarter. Morgan Stanley now owns 1,010,856 shares of the industrial products company’s stock valued at $4,912,000 after acquiring an additional 841,855 shares during the period. ExodusPoint Capital Management LP purchased a new position in shares of Titan International during the fourth quarter valued at approximately $1,629,000. Renaissance Technologies LLC lifted its stake in shares of Titan International by 4.7% during the 4th quarter. Renaissance Technologies LLC now owns 4,030,540 shares of the industrial products company’s stock worth $19,588,000 after acquiring an additional 179,500 shares during the last quarter. Citigroup Inc. boosted its holdings in Titan International by 4,716.1% during the 4th quarter. Citigroup Inc. now owns 54,566 shares of the industrial products company’s stock valued at $265,000 after acquiring an additional 53,433 shares during the period. Finally, One68 Global Capital LLC purchased a new stake in Titan International in the fourth quarter worth $150,000. 65.17% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Titan International from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Tuesday, March 23rd. Jefferies Financial Group lifted their target price on Titan International from $4.00 to $7.50 and gave the stock a “hold” rating in a report on Friday, January 15th.

Shares of Titan International stock traded down $0.29 during trading hours on Tuesday, hitting $11.12. The company’s stock had a trading volume of 7,774 shares, compared to its average volume of 521,630. The business has a 50 day moving average price of $9.98 and a two-hundred day moving average price of $6.82. Titan International has a 12-month low of $1.05 and a 12-month high of $11.45. The company has a market cap of $683.45 million, a PE ratio of -9.52 and a beta of 2.47. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.12 and a current ratio of 2.03.

Titan International (NYSE:TWI) last posted its earnings results on Thursday, March 4th. The industrial products company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.12. The company had revenue of $326.91 million for the quarter, compared to the consensus estimate of $300.86 million. Titan International had a negative return on equity of 27.12% and a negative net margin of 5.51%. As a group, research analysts anticipate that Titan International will post -0.67 earnings per share for the current year.

About Titan International

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in North America, Europe, Latin America, the Commonwealth of Independent States region, the Middle East, Africa, Russia, and internationally.

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