Otter Tail Co. (NASDAQ:OTTR) Short Interest Update

Otter Tail Co. (NASDAQ:OTTR) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 164,300 shares, a drop of 5.1% from the May 15th total of 173,200 shares. Based on an average daily volume of 75,000 shares, the days-to-cover ratio is presently 2.2 days. Currently, 0.4% of the shares of the stock are sold short.

Shares of NASDAQ OTTR traded down $0.82 during trading hours on Friday, reaching $51.92. 54,256 shares of the stock traded hands, compared to its average volume of 101,720. The stock has a market cap of $2.06 billion, a P/E ratio of 25.20, a P/E/G ratio of 3.37 and a beta of 0.37. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.36 and a quick ratio of 0.83. Otter Tail has a 52-week low of $44.22 and a 52-week high of $53.35. The business’s 50-day moving average is $52.00.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings results on Monday, May 6th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.03). Otter Tail had a return on equity of 11.34% and a net margin of 8.95%. The company had revenue of $246.00 million for the quarter, compared to the consensus estimate of $256.20 million. During the same quarter in the previous year, the business earned $0.66 earnings per share. Otter Tail’s revenue was up 1.9% compared to the same quarter last year. Analysts predict that Otter Tail will post 2.2 earnings per share for the current year.

Several research analysts have commented on the company. Maxim Group restated a “buy” rating and issued a $60.00 target price on shares of Otter Tail in a research note on Tuesday, May 7th. Zacks Investment Research cut HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st.

Several hedge funds have recently modified their holdings of OTTR. Quadrant Capital Group LLC bought a new stake in shares of Otter Tail in the 1st quarter worth approximately $64,000. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Otter Tail in the 4th quarter worth approximately $199,000. Cetera Advisor Networks LLC bought a new stake in shares of Otter Tail during the first quarter valued at approximately $200,000. Moors & Cabot Inc. bought a new stake in shares of Otter Tail during the first quarter valued at approximately $214,000. Finally, Menta Capital LLC bought a new stake in shares of Otter Tail during the fourth quarter valued at approximately $215,000. Hedge funds and other institutional investors own 43.64% of the company’s stock.

About Otter Tail

Otter Tail Corporation, together with its subsidiaries, engages in electric, manufacturing, and plastics businesses in the United States. The company's Electric segment produces, transmits, distributes, and sells electric energy in Minnesota, North Dakota, and South Dakota; and operates as a participant in the Midcontinent Independent System Operator, Inc markets.

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