Electro-Sensors, Inc. (NASDAQ:ELSE) Sees Significant Growth in Short Interest
by Doug Wharley · The Cerbat GemElectro-Sensors, Inc. (NASDAQ:ELSE – Get Free Report) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 7,138 shares, an increase of 586.3% from the March 15th total of 1,040 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 5,995 shares, the days-to-cover ratio is presently 1.2 days.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Electro-Sensors in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Electro-Sensors currently has a consensus rating of “Hold”.
Read Our Latest Stock Analysis on ELSE
Electro-Sensors Stock Up 1.1%
Shares of NASDAQ ELSE traded up $0.05 during mid-day trading on Friday, reaching $4.48. 6,934 shares of the company were exchanged, compared to its average volume of 4,888. The company’s 50-day simple moving average is $4.34 and its 200-day simple moving average is $4.48. The stock has a market capitalization of $15.81 million, a P/E ratio of 49.78 and a beta of 0.08. Electro-Sensors has a twelve month low of $3.65 and a twelve month high of $5.29.
Electro-Sensors (NASDAQ:ELSE – Get Free Report) last issued its quarterly earnings data on Monday, March 30th. The scientific and technical instruments company reported $0.03 earnings per share for the quarter. Electro-Sensors had a net margin of 3.02% and a return on equity of 2.10%. The business had revenue of $2.76 million during the quarter.
Electro-Sensors Company Profile
Electro-Sensors, Inc engages in the manufacture and selling of industrial production monitoring and process control systems. Its products include shaft speed witches; wireless hazard monitoring; temperature sensor; slide gate and angle position; bearing sensors and belt alignment; and motor drive control. The company was founded by James P. Slattery in 1965 and is headquartered in Minnetonka, MN.