Arrow Electronics, Inc. (NYSE:ARW) Short Interest Up 7.3% in January

Arrow Electronics, Inc. (NYSE:ARW) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 2,950,000 shares, an increase of 7.3% from the December 31st total of 2,750,000 shares. Based on an average trading volume of 409,800 shares, the days-to-cover ratio is presently 7.2 days. Currently, 5.7% of the shares of the stock are short sold.

Hedge Funds Weigh In On Arrow Electronics

Hedge funds have recently bought and sold shares of the stock. Fisher Funds Management LTD acquired a new position in shares of Arrow Electronics in the fourth quarter valued at approximately $7,455,000. Ieq Capital LLC raised its holdings in Arrow Electronics by 35.2% in the 4th quarter. Ieq Capital LLC now owns 8,723 shares of the technology company’s stock valued at $987,000 after acquiring an additional 2,271 shares during the last quarter. Truist Financial Corp raised its holdings in Arrow Electronics by 16.5% in the 4th quarter. Truist Financial Corp now owns 5,225 shares of the technology company’s stock valued at $591,000 after acquiring an additional 741 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of Arrow Electronics by 14.8% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 18,459 shares of the technology company’s stock worth $2,088,000 after purchasing an additional 2,380 shares during the period. Finally, Meixler Investment Management Ltd. boosted its holdings in shares of Arrow Electronics by 2.6% during the fourth quarter. Meixler Investment Management Ltd. now owns 3,421 shares of the technology company’s stock worth $387,000 after purchasing an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Arrow Electronics Stock Down 2.6 %

ARW stock opened at $113.49 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.46 and a quick ratio of 1.09. Arrow Electronics has a 12 month low of $108.51 and a 12 month high of $137.80. The firm has a market capitalization of $5.97 billion, a PE ratio of 12.67 and a beta of 1.26. The company’s 50 day simple moving average is $116.74 and its 200-day simple moving average is $123.72.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ARW. Truist Financial lowered their target price on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Wells Fargo & Company reduced their price objective on Arrow Electronics from $105.00 to $100.00 and set an “underweight” rating for the company in a report on Monday, January 13th. Finally, Raymond James lowered their target price on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Friday, November 1st.

About Arrow Electronics

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.