Short Interest in Titan Machinery Inc. (NASDAQ:TITN) Decreases By 29.2%

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Titan Machinery Inc. (NASDAQ:TITN) was the recipient of a large drop in short interest in the month of March. As of March 13th, there was short interest totalling 368,800 shares, a drop of 29.2% from the February 27th total of 521,000 shares. Approximately 2.0% of the shares of the stock are sold short. Based on an average daily volume of 152,000 shares, the short-interest ratio is currently 2.4 days.

Several hedge funds have recently added to or reduced their stakes in TITN. Global Alpha Capital Management Ltd. grew its stake in Titan Machinery by 104.8% during the fourth quarter. Global Alpha Capital Management Ltd. now owns 913,921 shares of the company’s stock valued at $13,508,000 after acquiring an additional 467,709 shares in the last quarter. Granahan Investment Management Inc. MA lifted its stake in Titan Machinery by 12.5% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 825,142 shares of the company’s stock worth $11,833,000 after purchasing an additional 91,802 shares in the last quarter. Kennedy Capital Management Inc. boosted its holdings in shares of Titan Machinery by 20.8% during the 4th quarter. Kennedy Capital Management Inc. now owns 478,087 shares of the company’s stock valued at $7,066,000 after purchasing an additional 82,283 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Titan Machinery by 14.2% during the 4th quarter. Renaissance Technologies LLC now owns 403,900 shares of the company’s stock valued at $5,970,000 after purchasing an additional 50,091 shares during the last quarter. Finally, State Street Corp grew its position in shares of Titan Machinery by 1.7% during the fourth quarter. State Street Corp now owns 383,151 shares of the company’s stock valued at $5,663,000 after purchasing an additional 6,271 shares in the last quarter. 76.15% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ TITN opened at $9.26 on Friday. The stock’s 50 day moving average is $10.22 and its 200 day moving average is $13.75. The company has a current ratio of 1.41, a quick ratio of 0.27 and a debt-to-equity ratio of 0.37. Titan Machinery has a 12 month low of $6.96 and a 12 month high of $21.88. The stock has a market cap of $171.90 million, a PE ratio of 18.52 and a beta of 2.41.

Titan Machinery (NASDAQ:TITN) last announced its quarterly earnings data on Thursday, March 26th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. Titan Machinery had a net margin of 0.85% and a return on equity of 4.88%. The business had revenue of $351.00 million during the quarter, compared to analyst estimates of $362.50 million. During the same period last year, the firm posted ($0.04) EPS. The company’s revenue was down 2.4% on a year-over-year basis. On average, analysts forecast that Titan Machinery will post 0.8 EPS for the current fiscal year.

TITN has been the topic of a number of analyst reports. ValuEngine upgraded shares of Titan Machinery from a “sell” rating to a “hold” rating in a research note on Friday, November 29th. BidaskClub lowered Titan Machinery from a “sell” rating to a “strong sell” rating in a research note on Friday, January 31st. Finally, Zacks Investment Research raised Titan Machinery from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $22.00.

Titan Machinery Company Profile

Titan Machinery Inc owns and operates a network of full-service agricultural and construction equipment stores. It operates through three segments: Agriculture, Construction, and International. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH Industrial family of brands, as well as equipment from various other manufacturers.

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