IEC Electronics Corp (NASDAQ:IEC) Sees Large Drop in Short Interest

IEC Electronics Corp (NASDAQ:IEC) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 35,800 shares, a decline of 26.9% from the August 31st total of 49,000 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily volume of 36,600 shares, the short-interest ratio is presently 1.0 days.

A number of large investors have recently added to or reduced their stakes in IEC. Wilen Investment Management CORP. acquired a new position in IEC Electronics during the 1st quarter worth approximately $167,000. Bridgeway Capital Management Inc. boosted its holdings in shares of IEC Electronics by 57.2% in the 2nd quarter. Bridgeway Capital Management Inc. now owns 56,350 shares of the technology company’s stock valued at $543,000 after buying an additional 20,500 shares during the last quarter. Commonwealth Equity Services LLC acquired a new stake in shares of IEC Electronics in the 2nd quarter valued at approximately $161,000. Bank of America Corp DE acquired a new stake in shares of IEC Electronics in the 2nd quarter valued at approximately $47,000. Finally, Advisor Group Holdings Inc. boosted its holdings in shares of IEC Electronics by 162.2% in the 2nd quarter. Advisor Group Holdings Inc. now owns 3,414 shares of the technology company’s stock valued at $32,000 after buying an additional 2,112 shares during the last quarter. 32.56% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:IEC traded up $0.05 on Thursday, hitting $8.70. 3,111 shares of the stock were exchanged, compared to its average volume of 41,154. The firm has a market capitalization of $91.28 million, a PE ratio of 13.95 and a beta of 1.10. IEC Electronics has a 52 week low of $5.00 and a 52 week high of $9.70. The company has a quick ratio of 0.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.87. The business has a 50-day moving average of $8.63.

IEC Electronics (NASDAQ:IEC) last announced its quarterly earnings results on Wednesday, August 5th. The technology company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. IEC Electronics had a return on equity of 21.91% and a net margin of 3.67%. The company had revenue of $47.36 million during the quarter.

Separately, ValuEngine raised shares of IEC Electronics from a “sell” rating to a “hold” rating in a research note on Monday, August 3rd.

IEC Electronics Company Profile

IEC Electronics Corp., together with its subsidiaries, provides electronic manufacturing services in the United States. It specializes in delivering technical solutions for the custom manufacturing, product configuration, and verification testing of engineered complex products that require a level of manufacturing.

Featured Article: What is the definition of market timing?

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