Virco Mfg. Co. (NASDAQ:VIRC) Short Interest Down 33.3% in March

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Virco Mfg. Co. (NASDAQ:VIRC) was the recipient of a significant decrease in short interest in the month of March. As of March 13th, there was short interest totalling 2,600 shares, a decrease of 33.3% from the February 27th total of 3,900 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 10,200 shares, the short-interest ratio is currently 0.3 days.

Virco Mfg. stock opened at $2.17 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.80 and a current ratio of 2.49. The firm has a market capitalization of $34.56 million, a price-to-earnings ratio of 217.00 and a beta of 0.76. Virco Mfg. has a fifty-two week low of $1.82 and a fifty-two week high of $5.00. The stock’s fifty day moving average is $3.56 and its two-hundred day moving average is $3.93.

In other news, EVP Douglas A. Virtue bought 15,378 shares of the stock in a transaction on Friday, March 13th. The shares were bought at an average price of $3.10 per share, with a total value of $47,671.80. Following the completion of the acquisition, the executive vice president now owns 108,557 shares of the company’s stock, valued at $336,526.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexander L. Cappello sold 15,674 shares of the company’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $3.10, for a total value of $48,589.40. The disclosure for this sale can be found here. Corporate insiders own 18.02% of the company’s stock.

An institutional investor recently raised its position in Virco Mfg. stock. Renaissance Technologies LLC raised its position in Virco Mfg. Co. (NASDAQ:VIRC) by 3.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 197,902 shares of the company’s stock after purchasing an additional 6,302 shares during the period. Renaissance Technologies LLC owned about 1.26% of Virco Mfg. worth $839,000 at the end of the most recent reporting period. 30.38% of the stock is owned by institutional investors.

Several research firms have weighed in on VIRC. ValuEngine raised Virco Mfg. from a “hold” rating to a “buy” rating in a report on Wednesday. Zacks Investment Research raised Virco Mfg. from a “hold” rating to a “strong-buy” rating and set a $4.75 target price on the stock in a report on Thursday, December 19th.

Virco Mfg. Company Profile

Virco Mfg. Corporation engages in the design, production, and distribution of furniture for the commercial and education markets in the United States. It offers seating products, including 4-leg chairs, cantilever and tablet arm chairs, work surfaces and compact footprints, steel-frame rockers, stools, task and classroom chairs, stack and folding chairs, hard plastic seats, upholstered stack and ergonomic chairs, and plastic stack chairs.

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