Short Interest in Gibraltar Industries, Inc. (NASDAQ:ROCK) Drops By 20.1%

Gibraltar Industries, Inc. (NASDAQ:ROCK) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 298,500 shares, a drop of 20.1% from the September 15th total of 373,500 shares. Based on an average trading volume of 183,700 shares, the short-interest ratio is presently 1.6 days. Approximately 1.0% of the company’s shares are sold short.

Gibraltar Industries Price Performance

Shares of NASDAQ:ROCK traded down $3.03 on Friday, hitting $67.13. The company’s stock had a trading volume of 277,368 shares, compared to its average volume of 176,779. The company has a 50-day simple moving average of $68.03 and a 200 day simple moving average of $71.41. The company has a market capitalization of $2.05 billion, a PE ratio of 17.81 and a beta of 1.14. Gibraltar Industries has a 1 year low of $59.66 and a 1 year high of $87.40.

Gibraltar Industries (NASDAQ:ROCK) last announced its quarterly earnings results on Wednesday, July 31st. The construction company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.08). Gibraltar Industries had a return on equity of 13.91% and a net margin of 8.49%. The company had revenue of $353.00 million during the quarter, compared to analysts’ expectations of $373.60 million. During the same period last year, the firm earned $1.18 earnings per share. Gibraltar Industries’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, equities research analysts expect that Gibraltar Industries will post 4.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gibraltar Industries

Hedge funds have recently bought and sold shares of the business. Innealta Capital LLC bought a new position in shares of Gibraltar Industries during the 2nd quarter valued at $39,000. GAMMA Investing LLC increased its holdings in shares of Gibraltar Industries by 30.6% in the third quarter. GAMMA Investing LLC now owns 725 shares of the construction company’s stock worth $51,000 after purchasing an additional 170 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Gibraltar Industries during the 2nd quarter worth approximately $55,000. Quarry LP grew its stake in shares of Gibraltar Industries by 428.9% in the 2nd quarter. Quarry LP now owns 989 shares of the construction company’s stock worth $68,000 after buying an additional 802 shares in the last quarter. Finally, Point72 DIFC Ltd raised its position in Gibraltar Industries by 92.1% during the second quarter. Point72 DIFC Ltd now owns 1,329 shares of the construction company’s stock valued at $91,000 after purchasing an additional 637 shares during the period. Institutional investors own 98.39% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 2nd.

About Gibraltar Industries

Gibraltar Industries, Inc manufactures and provides products and services for the renewable energy, residential, agtech, and infrastructure markets in the United States and internationally. It operates through four segments: Renewables, Residential, Agtech, and Infrastructure. The Renewables segment designs, engineers, manufactures, and installs solar racking and electrical balance of systems for commercial and distributed generation scale solar installations.