Tecnoglass Inc (NASDAQ:TGLS) Short Interest Update

Tecnoglass Inc (NASDAQ:TGLS) was the recipient of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 274,000 shares, an increase of 5.1% from the April 30th total of 260,600 shares. Approximately 2.0% of the company’s stock are sold short. Based on an average trading volume of 103,900 shares, the short-interest ratio is currently 2.6 days.

NASDAQ TGLS traded up $0.37 during trading on Friday, hitting $7.40. 175,281 shares of the stock traded hands, compared to its average volume of 66,325. The firm has a market capitalization of $306.73 million, a P/E ratio of 8.71, a P/E/G ratio of 0.49 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 2.50 and a debt-to-equity ratio of 1.26. The company has a 50-day moving average of $6.71. Tecnoglass has a 12-month low of $6.08 and a 12-month high of $10.29.

Tecnoglass (NASDAQ:TGLS) last announced its earnings results on Thursday, May 9th. The company reported $0.15 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.15. Tecnoglass had a return on equity of 21.84% and a net margin of 1.44%. The firm had revenue of $107.17 million during the quarter, compared to analysts’ expectations of $95.72 million. Equities analysts forecast that Tecnoglass will post 0.72 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Wednesday, July 31st will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 7.57%. The ex-dividend date is Tuesday, July 30th. Tecnoglass’s dividend payout ratio is currently 65.88%.

Several hedge funds have recently modified their holdings of the stock. Formula Growth Ltd. bought a new stake in shares of Tecnoglass during the 1st quarter worth approximately $2,912,000. Perritt Capital Management Inc. raised its position in Tecnoglass by 17.6% during the 4th quarter. Perritt Capital Management Inc. now owns 139,752 shares of the company’s stock valued at $1,128,000 after purchasing an additional 20,882 shares in the last quarter. Monarch Partners Asset Management LLC bought a new stake in Tecnoglass during the 1st quarter valued at $746,000. California Public Employees Retirement System raised its position in Tecnoglass by 1.7% during the 4th quarter. California Public Employees Retirement System now owns 89,222 shares of the company’s stock valued at $720,000 after purchasing an additional 1,496 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Tecnoglass during the 4th quarter valued at $687,000. 12.82% of the stock is owned by hedge funds and other institutional investors.

TGLS has been the topic of a number of recent research reports. B. Riley reissued a “buy” rating on shares of Tecnoglass in a research note on Friday, March 22nd. DA Davidson assumed coverage on Cardtronics in a research report on Thursday, May 30th. They set a “buy” rating on the stock. Goldman Sachs Group raised MICHELIN COMPAG/ADR from a “neutral” rating to a “buy” rating in a research report on Thursday, May 9th. Raymond James raised Tecnoglass from an “outperform” rating to a “strong-buy” rating and set a $10.00 price objective on the stock in a research report on Monday, July 1st. Finally, ValuEngine raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $10.46.

Tecnoglass Company Profile

Tecnoglass Inc, through its subsidiaries, manufactures, supplies, and installs architectural glass, windows, and associated aluminum products for the commercial and residential construction industries in North, Central, and South America. The company offers low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.

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