Proto Labs Inc (NYSE:PRLB) Short Interest Update

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Proto Labs Inc (NYSE:PRLB) saw a large growth in short interest during the month of August. As of August 15th, there was short interest totalling 2,450,800 shares, a growth of 29.0% from the July 15th total of 1,899,700 shares. Approximately 9.8% of the shares of the company are short sold. Based on an average daily trading volume, of 196,700 shares, the days-to-cover ratio is presently 12.5 days.

Several research firms have recently weighed in on PRLB. ValuEngine lowered shares of Proto Labs from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Zacks Investment Research raised shares of Proto Labs from a “hold” rating to a “buy” rating and set a $117.00 target price for the company in a report on Thursday, August 1st. Finally, Piper Jaffray Companies cut their target price on shares of Proto Labs from $92.00 to $84.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $126.25.

Large investors have recently bought and sold shares of the company. Stonebridge Capital Advisors LLC purchased a new position in shares of Proto Labs during the 2nd quarter valued at approximately $30,000. NumerixS Investment Technologies Inc acquired a new stake in Proto Labs in the 2nd quarter valued at $35,000. Parallel Advisors LLC acquired a new stake in Proto Labs in the 1st quarter valued at $34,000. Icon Wealth Partners LLC acquired a new stake in Proto Labs in the 1st quarter valued at $57,000. Finally, CSat Investment Advisory L.P. acquired a new stake in Proto Labs in the 2nd quarter valued at $63,000. 93.90% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:PRLB traded down $0.57 during trading on Tuesday, hitting $89.99. 268,588 shares of the stock traded hands, compared to its average volume of 184,388. The company has a quick ratio of 4.08, a current ratio of 4.26 and a debt-to-equity ratio of 0.02. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 32.02, a P/E/G ratio of 1.13 and a beta of 1.57. The company has a fifty day moving average price of $100.63 and a two-hundred day moving average price of $106.07. Proto Labs has a 52-week low of $88.75 and a 52-week high of $166.60.

Proto Labs (NYSE:PRLB) last posted its earnings results on Thursday, July 25th. The industrial products company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. The firm had revenue of $115.90 million during the quarter, compared to analyst estimates of $116.49 million. Proto Labs had a net margin of 15.71% and a return on equity of 13.14%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.73 EPS. On average, equities research analysts predict that Proto Labs will post 2.5 EPS for the current fiscal year.

Proto Labs Company Profile

Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce driven digital manufacturer of custom parts for prototyping and short-run production worldwide. It utilizes injection molding, computer numerical control machining, three-dimensional (3D) printing, and sheet metal fabrication to manufacture custom parts for developers and engineers who use 3D computer-aided design software to design products across a range of end markets.

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