American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Short Interest Down 9.9% in November

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) was the target of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 4,530,000 shares, a decrease of 9.9% from the November 15th total of 5,030,000 shares. Based on an average trading volume of 1,610,000 shares, the days-to-cover ratio is currently 2.8 days. Currently, 4.1% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several analysts have issued reports on AXL shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $6.00 price target on shares of American Axle & Manufacturing in a research report on Tuesday, September 10th. Wolfe Research upgraded American Axle & Manufacturing to a “hold” rating in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, American Axle & Manufacturing has a consensus rating of “Hold” and an average price target of $7.38.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AXL. nVerses Capital LLC purchased a new position in American Axle & Manufacturing during the second quarter valued at approximately $41,000. KBC Group NV lifted its stake in shares of American Axle & Manufacturing by 81.3% during the 3rd quarter. KBC Group NV now owns 7,160 shares of the auto parts company’s stock valued at $44,000 after buying an additional 3,211 shares in the last quarter. Quarry LP boosted its holdings in American Axle & Manufacturing by 159.2% in the 2nd quarter. Quarry LP now owns 7,899 shares of the auto parts company’s stock worth $55,000 after buying an additional 4,851 shares during the period. XTX Topco Ltd purchased a new stake in American Axle & Manufacturing in the 3rd quarter worth $62,000. Finally, Zacks Investment Management bought a new stake in American Axle & Manufacturing during the third quarter valued at about $70,000. 91.41% of the stock is owned by hedge funds and other institutional investors.

American Axle & Manufacturing Stock Performance

Shares of AXL stock traded down $0.08 during trading hours on Tuesday, reaching $6.29. The company had a trading volume of 1,264,030 shares, compared to its average volume of 1,567,680. The company has a debt-to-equity ratio of 4.28, a quick ratio of 1.29 and a current ratio of 1.65. The business has a fifty day moving average price of $6.35 and a 200-day moving average price of $6.54. American Axle & Manufacturing has a one year low of $5.43 and a one year high of $8.99. The firm has a market cap of $739.58 million, a PE ratio of 26.21 and a beta of 1.95.

American Axle & Manufacturing (NYSE:AXL) last released its quarterly earnings results on Friday, November 8th. The auto parts company reported $0.20 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.25. American Axle & Manufacturing had a net margin of 0.48% and a return on equity of 9.63%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the prior year, the firm earned ($0.11) EPS. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. Sell-side analysts predict that American Axle & Manufacturing will post 0.47 earnings per share for the current fiscal year.

About American Axle & Manufacturing

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, and manufactures driveline and metal forming technologies that supports electric, hybrid, and internal combustion vehicles. It operates through two segments, Driveline and Metal Forming segments. The Driveline segment offers front and rear axles, driveshafts, differential assemblies, clutch modules, balance shaft systems, disconnecting driveline technology, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.