Haynes International, Inc. (NASDAQ:HAYN) Sees Large Drop in Short Interest

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Haynes International, Inc. (NASDAQ:HAYN) was the target of a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 170,000 shares, a decrease of 28.0% from the September 15th total of 236,000 shares. Based on an average daily trading volume, of 91,500 shares, the short-interest ratio is presently 1.9 days. Approximately 1.4% of the shares of the company are short sold.

In other news, CEO Michael L. Shor acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The stock was acquired at an average cost of $19.49 per share, with a total value of $38,980.00. Following the acquisition, the chief executive officer now owns 39,316 shares in the company, valued at $766,268.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.12% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in shares of Haynes International by 82.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,152 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 522 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Haynes International by 167.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,992 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 1,247 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Haynes International by 70.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,264 shares of the basic materials company’s stock worth $108,000 after acquiring an additional 2,169 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Haynes International in the 2nd quarter worth approximately $159,000. Finally, Royal Bank of Canada boosted its holdings in shares of Haynes International by 92.9% in the 1st quarter. Royal Bank of Canada now owns 8,122 shares of the basic materials company’s stock worth $167,000 after acquiring an additional 3,911 shares in the last quarter. 96.38% of the stock is owned by institutional investors.

Shares of HAYN stock traded down $0.16 during mid-day trading on Friday, reaching $17.52. The company’s stock had a trading volume of 47,535 shares, compared to its average volume of 103,784. Haynes International has a 1-year low of $17.00 and a 1-year high of $39.04. The company has a market cap of $220.00 million, a P/E ratio of 42.73 and a beta of 1.35. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.69 and a current ratio of 5.23. The firm’s 50-day moving average is $18.43 and its two-hundred day moving average is $21.00.

Haynes International (NASDAQ:HAYN) last announced its quarterly earnings data on Friday, July 31st. The basic materials company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.35). The business had revenue of $80.58 million during the quarter. Haynes International had a net margin of 1.23% and a return on equity of 1.76%. Sell-side analysts anticipate that Haynes International will post -0.79 EPS for the current year.

Several equities analysts recently commented on the stock. Sidoti cut their target price on shares of Haynes International from $33.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday, October 1st. ValuEngine cut shares of Haynes International from a “hold” rating to a “sell” rating in a research note on Thursday, October 1st. Zacks Investment Research cut shares of Haynes International from a “buy” rating to a “hold” rating in a research note on Wednesday, July 8th. Finally, TheStreet cut shares of Haynes International from a “c” rating to a “d+” rating in a research note on Thursday, August 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Haynes International has a consensus rating of “Hold” and a consensus target price of $27.00.

Haynes International Company Profile

Haynes International, Inc engages in the development, manufacture, and marketing of nickel-and cobalt-based alloys used in corrosion and high-temperature applications. It supports a range of industries such as aerospace, chemical processing, and industrial gas turbine. The company was founded by Elwood P.

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