Short Interest in Generac Holdings Inc. (NYSE:GNRC) Grows By 6.6%

Generac Holdings Inc. (NYSE:GNRC) was the recipient of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 2,760,000 shares, an increase of 6.6% from the September 15th total of 2,590,000 shares. Based on an average daily volume of 898,800 shares, the days-to-cover ratio is presently 3.1 days. Approximately 4.7% of the shares of the company are sold short.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total transaction of $794,650.00. Following the sale, the chief executive officer now directly owns 562,177 shares in the company, valued at approximately $89,346,790.61. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.80% of the company’s stock.

Institutional Trading of Generac

Several institutional investors have recently modified their holdings of GNRC. Quarry LP raised its position in Generac by 219.6% during the fourth quarter. Quarry LP now owns 294 shares of the technology company’s stock valued at $38,000 after buying an additional 202 shares during the period. Virtu Financial LLC acquired a new position in shares of Generac in the 4th quarter worth approximately $269,000. Centaurus Financial Inc. acquired a new stake in Generac during the 4th quarter valued at $104,000. American International Group Inc. increased its holdings in Generac by 0.6% during the 4th quarter. American International Group Inc. now owns 16,550 shares of the technology company’s stock valued at $2,139,000 after purchasing an additional 93 shares in the last quarter. Finally, Congress Asset Management Co. MA boosted its position in Generac by 25.5% in the 4th quarter. Congress Asset Management Co. MA now owns 2,430 shares of the technology company’s stock valued at $314,000 after buying an additional 494 shares during the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Stock Performance

GNRC traded up $3.99 on Wednesday, hitting $174.21. 794,054 shares of the company’s stock were exchanged, compared to its average volume of 963,904. The firm has a market cap of $10.56 billion, a PE ratio of 47.99, a P/E/G ratio of 2.22 and a beta of 1.38. The stock has a fifty day moving average of $152.17 and a two-hundred day moving average of $145.24. Generac has a twelve month low of $79.86 and a twelve month high of $175.86. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.61.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, July 31st. The technology company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.20 by $0.15. Generac had a return on equity of 15.35% and a net margin of 6.03%. The company had revenue of $998.20 million during the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the company earned $1.08 earnings per share. The business’s revenue was down .2% compared to the same quarter last year. On average, research analysts anticipate that Generac will post 6.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group upped their price target on Generac from $129.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. TD Cowen raised their price target on Generac from $144.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Scotiabank raised their price objective on Generac from $147.00 to $160.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Truist Financial lifted their price target on Generac from $170.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Piper Sandler reissued an “overweight” rating and issued a $175.00 price objective on shares of Generac in a report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $156.62.

Generac Company Profile

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.