Generac Holdings Inc. (NYSE:GNRC) Short Interest Up 23.8% in November

Generac Holdings Inc. (NYSE:GNRC) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 2,970,000 shares, an increase of 23.8% from the October 31st total of 2,400,000 shares. Based on an average trading volume of 846,000 shares, the days-to-cover ratio is currently 3.5 days. Approximately 5.1% of the company’s shares are short sold.

Generac Stock Down 0.0 %

Shares of NYSE GNRC traded down $0.07 on Monday, hitting $188.13. The company had a trading volume of 238,474 shares, compared to its average volume of 938,394. The business has a 50 day moving average of $172.92 and a two-hundred day moving average of $155.42. Generac has a 12-month low of $108.89 and a 12-month high of $195.94. The firm has a market capitalization of $11.19 billion, a P/E ratio of 39.05, a PEG ratio of 2.31 and a beta of 1.37. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56.

Generac (NYSE:GNRC) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.27. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Generac had a net margin of 7.17% and a return on equity of 16.70%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.64 earnings per share. As a group, equities research analysts forecast that Generac will post 6.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on GNRC shares. Truist Financial raised their target price on Generac from $170.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. StockNews.com raised shares of Generac from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Robert W. Baird lowered their price objective on Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Citigroup boosted their target price on shares of Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Stifel Nicolaus lifted their price objective on shares of Generac from $185.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $174.58.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $166.60, for a total value of $833,000.00. Following the transaction, the chief executive officer now directly owns 557,177 shares of the company’s stock, valued at $92,825,688.20. This represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total transaction of $585,069.46. Following the transaction, the executive vice president now directly owns 10,738 shares in the company, valued at approximately $1,971,282.04. This represents a 22.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,268 shares of company stock valued at $7,584,853. 2.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Generac

Institutional investors have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. increased its position in shares of Generac by 2.2% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,427 shares of the technology company’s stock worth $558,000 after purchasing an additional 94 shares in the last quarter. Comerica Bank increased its position in shares of Generac by 32.7% in the 1st quarter. Comerica Bank now owns 30,594 shares of the technology company’s stock valued at $3,859,000 after buying an additional 7,532 shares in the last quarter. Cetera Advisors LLC lifted its holdings in Generac by 47.8% during the first quarter. Cetera Advisors LLC now owns 6,534 shares of the technology company’s stock worth $824,000 after acquiring an additional 2,114 shares in the last quarter. Transcend Capital Advisors LLC grew its stake in Generac by 26.2% in the second quarter. Transcend Capital Advisors LLC now owns 2,060 shares of the technology company’s stock valued at $272,000 after acquiring an additional 428 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Generac by 95.7% in the 2nd quarter. GAMMA Investing LLC now owns 920 shares of the technology company’s stock valued at $122,000 after purchasing an additional 450 shares during the period. Institutional investors own 84.04% of the company’s stock.

About Generac

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.