Posted by admin on May 27th, 2022
Virco Mfg. Co. (NASDAQ:VIRC – Get Rating) was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 7,400 shares, an increase of 124.2% from the April 30th total of 3,300 shares. Based on an average trading volume of 8,700 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.1% of the company’s shares are sold short.
Virco Mfg. stock opened at $2.90 on Friday. Virco Mfg. has a 1 year low of $2.63 and a 1 year high of $4.17. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.59 and a current ratio of 1.90. The firm has a 50 day moving average price of $2.93 and a 200 day moving average price of $3.05. The company has a market cap of $46.70 million, a price-to-earnings ratio of -3.05 and a beta of 1.22.
Virco Mfg. (NASDAQ:VIRC – Get Rating) last announced its quarterly earnings data on Thursday, April 21st. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.79). The company had revenue of $40.11 million for the quarter, compared to analysts’ expectations of $37.50 million. Virco Mfg. had a negative net margin of 8.19% and a negative return on equity of 28.24%. Sell-side analysts predict that Virco Mfg. will post 0.33 EPS for the current year.
Several research analysts have weighed in on the company. Zacks Investment Research downgraded Virco Mfg. from a “buy” rating to a “hold” rating in a report on Thursday, May 5th. TheStreet downgraded Virco Mfg. from a “c-” rating to a “d+” rating in a research report on Friday, April 22nd.
Several institutional investors have recently added to or reduced their stakes in the company. Minerva Advisors LLC lifted its stake in shares of Virco Mfg. by 1.9% in the 4th quarter. Minerva Advisors LLC now owns 875,628 shares of the company’s stock valued at $2,626,000 after purchasing an additional 16,182 shares in the last quarter. Vanguard Group Inc. lifted its position in Virco Mfg. by 2.3% during the first quarter. Vanguard Group Inc. now owns 195,140 shares of the company’s stock valued at $583,000 after buying an additional 4,333 shares in the last quarter. Wedbush Securities Inc. grew its stake in Virco Mfg. by 119.5% during the first quarter. Wedbush Securities Inc. now owns 49,600 shares of the company’s stock worth $148,000 after buying an additional 27,000 shares during the period. Wilen Investment Management CORP. acquired a new stake in shares of Virco Mfg. in the first quarter worth $67,000. Finally, Morgan Stanley raised its stake in shares of Virco Mfg. by 2,140,000.0% in the 2nd quarter. Morgan Stanley now owns 21,401 shares of the company’s stock valued at $73,000 after acquiring an additional 21,400 shares during the period. Institutional investors own 19.24% of the company’s stock.
About Virco Mfg. (Get Rating)
Virco Mfg. Corporation engages in the design, production, and distribution of furniture for the commercial and education markets in the United States. It offers seating products, including 4-leg chairs, cantilever chairs, tablet arm chairs with work surfaces and compact footprints, steel-frame rockers, stools, series chairs, stack and folding chairs, hard plastic seating, upholstered stack and ergonomic chairs, and plastic stack chairs.
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