Stevanato Group S.p.A. (NYSE:STVN) Sees Significant Drop in Short Interest
by Mitch Edgeman · The Markets DailyStevanato Group S.p.A. (NYSE:STVN – Get Free Report) was the target of a large decline in short interest in February. As of February 27th, there was short interest totaling 1,539,632 shares, a decline of 19.9% from the February 12th total of 1,922,035 shares. Based on an average daily trading volume, of 625,122 shares, the short-interest ratio is presently 2.5 days. Currently, 0.5% of the shares of the company are sold short. Currently, 0.5% of the shares of the company are sold short. Based on an average daily trading volume, of 625,122 shares, the short-interest ratio is presently 2.5 days.
Stevanato Group Stock Performance
STVN traded up €0.39 during midday trading on Friday, hitting €15.03. 494,600 shares of the company were exchanged, compared to its average volume of 570,438. The company’s 50 day simple moving average is €17.06 and its 200 day simple moving average is €21.40. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 1.34 and a beta of 0.57. Stevanato Group has a 1-year low of €13.91 and a 1-year high of €28.00. The company has a current ratio of 1.76, a quick ratio of 1.26 and a debt-to-equity ratio of 0.23.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the stock. Wall Street Zen lowered shares of Stevanato Group from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Morgan Stanley reduced their target price on Stevanato Group from $24.00 to $19.00 and set an “equal weight” rating for the company in a report on Friday, March 6th. Citigroup dropped their price objective on shares of Stevanato Group from $32.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Weiss Ratings downgraded shares of Stevanato Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday. Finally, Jefferies Financial Group set a $17.50 price objective on Stevanato Group in a research report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.
View Our Latest Research Report on Stevanato Group
Institutional Trading of Stevanato Group
Large investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its holdings in shares of Stevanato Group by 10.8% in the 1st quarter. Royal Bank of Canada now owns 437,284 shares of the company’s stock valued at $8,930,000 after purchasing an additional 42,731 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Stevanato Group by 7.7% during the second quarter. PNC Financial Services Group Inc. now owns 9,893 shares of the company’s stock worth $242,000 after purchasing an additional 711 shares in the last quarter. Advisors Capital Management LLC increased its stake in shares of Stevanato Group by 3.7% during the 2nd quarter. Advisors Capital Management LLC now owns 177,130 shares of the company’s stock worth $4,327,000 after purchasing an additional 6,401 shares in the last quarter. Intrust Bank NA purchased a new position in Stevanato Group in the 2nd quarter valued at about $247,000. Finally, Portside Wealth Group LLC acquired a new stake in shares of Stevanato Group during the second quarter worth $249,000.
About Stevanato Group
Stevanato Group is a global provider of primary packaging solutions and related services for the pharmaceutical and biotech industries. The company specializes in the design, development and manufacturing of glass drug containers such as vials, cartridges and pre-fillable syringes, as well as advanced inspection systems and assembly equipment. Its integrated offerings cover the entire packaging supply chain, from component production to bespoke filling lines and serialization technology.
In addition to its core glass business, Stevanato Group delivers engineering services and process validation support to pharmaceutical customers.