Short Interest in Commercial Vehicle Group, Inc. (NASDAQ:CVGI) Expands By 14.8%

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Commercial Vehicle Group, Inc. (NASDAQ:CVGI) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 685,300 shares, a growth of 14.8% from the July 31st total of 597,200 shares. Currently, 2.4% of the shares of the stock are short sold. Based on an average trading volume of 291,500 shares, the days-to-cover ratio is currently 2.4 days.

NASDAQ CVGI traded up $0.12 during mid-day trading on Friday, reaching $7.12. 417,570 shares of the company’s stock traded hands, compared to its average volume of 318,169. Commercial Vehicle Group has a 1-year low of $5.35 and a 1-year high of $9.77. The company has a fifty day simple moving average of $7.06 and a 200-day simple moving average of $7.65. The company has a current ratio of 2.45, a quick ratio of 1.77 and a debt-to-equity ratio of 1.27. The company has a market cap of $219.29 million, a price-to-earnings ratio of 5.83 and a beta of 2.81.

Commercial Vehicle Group (NASDAQ:CVGI) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.23 earnings per share for the quarter. Commercial Vehicle Group had a return on equity of 30.50% and a net margin of 4.25%. The firm had revenue of $243.19 million during the quarter. Equities research analysts forecast that Commercial Vehicle Group will post 1.17 earnings per share for the current fiscal year.

Several analysts have recently issued reports on CVGI shares. BidaskClub upgraded Commercial Vehicle Group from a “hold” rating to a “buy” rating in a research report on Friday, July 26th. ValuEngine upgraded Commercial Vehicle Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 8th. Barrington Research started coverage on Commercial Vehicle Group in a research report on Thursday, August 29th. They set an “outperform” rating and a $7.50 target price on the stock. Finally, Dougherty & Co initiated coverage on Commercial Vehicle Group in a research report on Tuesday, August 27th. They set a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $8.50.

Hedge funds and other institutional investors have recently modified their holdings of the business. Royce & Associates LP lifted its holdings in Commercial Vehicle Group by 15.3% during the 1st quarter. Royce & Associates LP now owns 2,240,660 shares of the company’s stock worth $17,186,000 after buying an additional 297,233 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Commercial Vehicle Group by 23.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,493,459 shares of the company’s stock worth $11,977,000 after buying an additional 283,781 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Commercial Vehicle Group by 15.3% during the 2nd quarter. Renaissance Technologies LLC now owns 2,109,700 shares of the company’s stock worth $16,920,000 after buying an additional 279,300 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Commercial Vehicle Group by 3,680.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 278,943 shares of the company’s stock worth $2,178,000 after buying an additional 271,565 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in Commercial Vehicle Group by 13.1% during the 2nd quarter. BlackRock Inc. now owns 2,080,772 shares of the company’s stock worth $16,688,000 after buying an additional 241,657 shares during the last quarter. Hedge funds and other institutional investors own 82.10% of the company’s stock.

About Commercial Vehicle Group

Commercial Vehicle Group, Inc, together with its subsidiaries, designs, engineers, produces, and sells a range of cab related products and systems in North America, Europe, and the Asia Pacific regions. It operates through two segments, Electrical Systems and Global Seating. The Electrical Systems segment electronic provides wire harness assemblies that function as current carrying devices used to provide electrical interconnections for gauges, lights, control functions, power circuits, powertrain and transmission sensors, emissions systems, and other electronic applications on commercial vehicles; and panel assemblies and cabinets.

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