Short Interest in Sypris Solutions, Inc. (NASDAQ:SYPR) Drops By 68.9%

Sypris Solutions, Inc. (NASDAQ:SYPR) was the recipient of a large drop in short interest in June. As of June 15th, there was short interest totaling 40,273 shares, a drop of 68.9% from the May 31st total of 129,586 shares. Based on an average daily trading volume, of 107,216 shares, the short-interest ratio is currently 0.4 days. Currently, 0.3% of the shares of the stock are sold short.

Sypris Solutions Price Performance

Shares of Sypris Solutions stock traded up $0.16 during trading hours on Tuesday, reaching $2.54. 20,368 shares of the company’s stock were exchanged, compared to its average volume of 171,171. Sypris Solutions has a 1 year low of $1.79 and a 1 year high of $4.74. The company has a market capitalization of $58.45 million, a P/E ratio of -6.05 and a beta of 0.85. The business has a fifty day moving average of $3.04 and a two-hundred day moving average of $3.04. The company has a quick ratio of 0.39, a current ratio of 1.20 and a debt-to-equity ratio of 1.07.

Sypris Solutions (NASDAQ:SYPR) last posted its quarterly earnings results on Tuesday, May 19th. The auto parts company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.17). The business had revenue of $25.81 million during the quarter, compared to analysts’ expectations of $22.70 million. Sypris Solutions had a negative return on equity of 54.45% and a negative net margin of 8.23%.

Institutional Investors Weigh In On Sypris Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sei Investments Co. purchased a new position in Sypris Solutions during the first quarter worth approximately $505,000. Dimensional Fund Advisors LP increased its stake in shares of Sypris Solutions by 33.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 56,293 shares of the auto parts company’s stock worth $160,000 after acquiring an additional 13,975 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Sypris Solutions during the 4th quarter worth $31,000. Finally, XTX Topco Ltd purchased a new position in shares of Sypris Solutions during the 4th quarter worth $25,000. Institutional investors and hedge funds own 44.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SYPR. Wall Street Zen downgraded shares of Sypris Solutions from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Sypris Solutions in a research report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Sypris Solutions Company Profile

Sypris Solutions, Inc (NASDAQ: SYPR) is an engineering and manufacturing company headquartered in Tampa, Florida. The firm operates through two primary business segments—Contract Manufacturing and Power Solutions—delivering precision components, subassemblies, and service solutions to original equipment manufacturers (OEMs) and aftermarket customers. Sypris Solutions caters to a diverse range of end markets, including heavy truck, automotive, defense, and industrial power generation.

Within its Contract Manufacturing segment, Sypris Solutions offers end-to-end capabilities from design and prototyping to toolmaking and final assembly.