Short Interest in Tecnoglass Inc (NASDAQ:TGLS) Declines By 12.0%

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Tecnoglass Inc (NASDAQ:TGLS) saw a large decline in short interest in the month of July. As of July 15th, there was short interest totalling 236,000 shares, a decline of 12.0% from the June 30th total of 268,200 shares. Based on an average daily volume of 72,400 shares, the short-interest ratio is presently 3.3 days. Approximately 1.3% of the company’s shares are sold short.

Tecnoglass stock opened at $4.95 on Friday. The stock’s 50 day simple moving average is $5.28 and its two-hundred day simple moving average is $5.27. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.80 and a current ratio of 2.38. The stock has a market cap of $228.29 million, a price-to-earnings ratio of -164.95, a PEG ratio of 0.50 and a beta of 1.38. Tecnoglass has a fifty-two week low of $2.15 and a fifty-two week high of $8.93.

Tecnoglass (NASDAQ:TGLS) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.04). The firm had revenue of $87.30 million for the quarter, compared to the consensus estimate of $105.92 million. Tecnoglass had a negative net margin of 0.38% and a positive return on equity of 17.27%. On average, analysts predict that Tecnoglass will post 0.5 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 8th were given a dividend of $0.027 per share. The ex-dividend date of this dividend was Tuesday, July 7th. This represents a $0.11 annualized dividend and a yield of 2.18%. Tecnoglass’s payout ratio is 15.94%.

A number of brokerages recently issued reports on TGLS. Zacks Investment Research downgraded Tecnoglass from a “hold” rating to a “sell” rating in a report on Tuesday, June 16th. ValuEngine upgraded Tecnoglass from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. Finally, Raymond James reduced their price target on Tecnoglass from $7.00 to $6.00 and set a “strong-buy” rating on the stock in a report on Monday, May 11th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $7.63.

Institutional investors and hedge funds have recently modified their holdings of the company. Aptus Capital Advisors LLC bought a new stake in shares of Tecnoglass in the 2nd quarter worth approximately $426,000. Invesco Ltd. boosted its position in shares of Tecnoglass by 95.7% in the 1st quarter. Invesco Ltd. now owns 130,260 shares of the company’s stock worth $503,000 after purchasing an additional 63,696 shares in the last quarter. National Investment Services of America LLC boosted its position in shares of Tecnoglass by 40.4% in the 1st quarter. National Investment Services of America LLC now owns 146,073 shares of the company’s stock worth $564,000 after purchasing an additional 42,029 shares in the last quarter. Monarch Partners Asset Management LLC boosted its position in shares of Tecnoglass by 28.2% in the 1st quarter. Monarch Partners Asset Management LLC now owns 175,183 shares of the company’s stock worth $676,000 after purchasing an additional 38,516 shares in the last quarter. Finally, Penn Capital Management Co. Inc. boosted its position in shares of Tecnoglass by 12.7% in the 1st quarter. Penn Capital Management Co. Inc. now owns 287,099 shares of the company’s stock worth $1,108,000 after purchasing an additional 32,265 shares in the last quarter. 14.19% of the stock is currently owned by hedge funds and other institutional investors.

Tecnoglass Company Profile

Tecnoglass Inc, through its subsidiaries, manufactures, supplies, and installs architectural glass, windows, and associated aluminum products for the commercial and residential construction industries in North, Central, and South America. The company offers low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.

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