Arrow Electronics, Inc. (NYSE:ARW) Short Interest Down 5.7% in November

Arrow Electronics, Inc. (NYSE:ARW) was the recipient of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 2,500,000 shares, a decline of 5.7% from the October 31st total of 2,650,000 shares. Currently, 4.8% of the company’s stock are short sold. Based on an average daily volume of 399,000 shares, the days-to-cover ratio is currently 6.3 days.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. True Wealth Design LLC bought a new stake in shares of Arrow Electronics during the third quarter worth approximately $31,000. Versant Capital Management Inc grew its holdings in Arrow Electronics by 794.6% in the 2nd quarter. Versant Capital Management Inc now owns 331 shares of the technology company’s stock valued at $40,000 after buying an additional 294 shares in the last quarter. Brooklyn Investment Group acquired a new position in Arrow Electronics in the 3rd quarter valued at $40,000. Capital Performance Advisors LLP bought a new position in Arrow Electronics during the 3rd quarter worth $73,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Arrow Electronics during the third quarter worth $78,000. 99.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on ARW. Truist Financial cut their price objective on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a report on Friday, November 1st. Raymond James lowered their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $124.25.

Arrow Electronics Stock Down 1.1 %

ARW stock opened at $121.29 on Wednesday. Arrow Electronics has a 1-year low of $108.51 and a 1-year high of $137.80. The business’s 50 day simple moving average is $126.31 and its 200 day simple moving average is $126.96. The company has a current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $6.38 billion, a PE ratio of 13.54 and a beta of 1.26.

Arrow Electronics (NYSE:ARW) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.23 by $0.15. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.73 billion. Arrow Electronics had a net margin of 1.71% and a return on equity of 10.71%. The company’s quarterly revenue was down 14.8% on a year-over-year basis. During the same period in the previous year, the company earned $4.14 earnings per share. As a group, research analysts anticipate that Arrow Electronics will post 10.23 EPS for the current year.

About Arrow Electronics

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.