Infrastructure and Energy Alternatives (NASDAQ:IEA) Short Interest Down 22.1% in August

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Infrastructure and Energy Alternatives (NASDAQ:IEA) saw a significant drop in short interest in the month of August. As of August 15th, there was short interest totalling 845,400 shares, a drop of 22.1% from the July 15th total of 1,085,700 shares. Approximately 4.5% of the shares of the company are sold short. Based on an average daily volume of 597,200 shares, the days-to-cover ratio is presently 1.4 days.

A number of brokerages recently issued reports on IEA. ValuEngine raised shares of Infrastructure and Energy Alternatives from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research lowered shares of Infrastructure and Energy Alternatives from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd.

IEA stock traded down $0.12 on Tuesday, reaching $3.67. 70,135 shares of the company were exchanged, compared to its average volume of 295,375. Infrastructure and Energy Alternatives has a 12 month low of $1.81 and a 12 month high of $11.06. The company has a fifty day simple moving average of $2.92. The stock has a market capitalization of $84.33 million, a price-to-earnings ratio of -4.59 and a beta of 0.44.

Infrastructure and Energy Alternatives (NASDAQ:IEA) last announced its earnings results on Wednesday, August 14th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.63). The company had revenue of $327.96 million for the quarter, compared to analyst estimates of $330.00 million. As a group, sell-side analysts forecast that Infrastructure and Energy Alternatives will post -0.55 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Oaktree Capital Management LP acquired a new stake in Infrastructure and Energy Alternatives during the second quarter worth $39,000. Jane Street Group LLC acquired a new stake in Infrastructure and Energy Alternatives during the second quarter worth $138,000. Paloma Partners Management Co acquired a new stake in Infrastructure and Energy Alternatives during the second quarter worth $141,000. United Capital Financial Advisers LLC boosted its stake in Infrastructure and Energy Alternatives by 152.2% during the second quarter. United Capital Financial Advisers LLC now owns 116,000 shares of the company’s stock worth $237,000 after buying an additional 70,000 shares in the last quarter. Finally, Perritt Capital Management Inc. boosted its stake in Infrastructure and Energy Alternatives by 2.8% during the second quarter. Perritt Capital Management Inc. now owns 329,409 shares of the company’s stock worth $672,000 after buying an additional 9,000 shares in the last quarter. 17.85% of the stock is currently owned by institutional investors and hedge funds.

About Infrastructure and Energy Alternatives

Infrastructure and Energy Alternatives, Inc, a diversified infrastructure construction company, provides engineering, procurement, and construction services for the renewable energy, traditional power, and civil infrastructure industries in the United States. It offers design, site development, construction, installation, and restoration of infrastructure services.

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