South Plains Financial (NASDAQ:SPFI) was the target of a large growth in short interest in January. As of January 15th, there was short interest totalling 234,400 shares, a growth of 400.9% from the December 31st total of 46,800 shares. Approximately 2.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 55,400 shares, the short-interest ratio is presently 4.2 days.
Separately, ValuEngine upgraded South Plains Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd.
Shares of SPFI stock opened at $21.79 on Tuesday. South Plains Financial has a 52-week low of $15.82 and a 52-week high of $21.97. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.94 and a current ratio of 0.96. The firm has a market capitalization of $383.43 million and a PE ratio of 12.89. The stock has a fifty day simple moving average of $20.72 and a two-hundred day simple moving average of $18.03.
A number of hedge funds have recently modified their holdings of SPFI. Penn Capital Management Co. Inc. purchased a new stake in South Plains Financial in the 2nd quarter worth $858,000. Northern Trust Corp purchased a new stake in South Plains Financial in the 2nd quarter worth $185,000. BlackRock Inc. purchased a new stake in South Plains Financial in the 2nd quarter worth $2,529,000. Tower Research Capital LLC TRC purchased a new stake in South Plains Financial in the 2nd quarter worth $66,000. Finally, Vanguard Group Inc. purchased a new stake in South Plains Financial in the 2nd quarter worth $1,067,000. Institutional investors and hedge funds own 20.88% of the company’s stock.
About South Plains Financial
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