Short Interest in Generac Holdings Inc. (NYSE:GNRC) Declines By 22.4%

Generac Holdings Inc. (NYSE:GNRC) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 2,250,000 shares, a decline of 22.4% from the February 28th total of 2,900,000 shares. Currently, 3.8% of the company’s stock are short sold. Based on an average trading volume of 831,100 shares, the days-to-cover ratio is presently 2.7 days.

Wall Street Analyst Weigh In

GNRC has been the topic of several research analyst reports. Piper Sandler lowered their target price on shares of Generac from $185.00 to $175.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Stifel Nicolaus dropped their target price on shares of Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Wells Fargo & Company decreased their target price on shares of Generac from $175.00 to $165.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. Truist Financial dropped their price target on Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, UBS Group upped their price objective on Generac from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Ten investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $174.38.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $145.15, for a total value of $725,750.00. Following the completion of the transaction, the chief executive officer now owns 565,825 shares in the company, valued at $82,129,498.75. The trade was a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Generac

A number of hedge funds and other institutional investors have recently modified their holdings of GNRC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Generac by 1.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,456 shares of the technology company’s stock worth $1,001,000 after purchasing an additional 72 shares during the last quarter. MetLife Investment Management LLC grew its holdings in Generac by 0.5% during the 4th quarter. MetLife Investment Management LLC now owns 17,004 shares of the technology company’s stock valued at $2,636,000 after buying an additional 77 shares in the last quarter. Alaethes Wealth LLC increased its stake in Generac by 0.7% in the 4th quarter. Alaethes Wealth LLC now owns 11,721 shares of the technology company’s stock worth $1,817,000 after acquiring an additional 78 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Generac by 3.0% during the 4th quarter. Allworth Financial LP now owns 2,738 shares of the technology company’s stock worth $435,000 after acquiring an additional 80 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its position in shares of Generac by 42.0% during the 4th quarter. Venturi Wealth Management LLC now owns 284 shares of the technology company’s stock valued at $44,000 after acquiring an additional 84 shares during the last quarter. Institutional investors own 84.04% of the company’s stock.

Generac Price Performance

GNRC stock traded down $0.35 during trading on Tuesday, reaching $126.30. The company’s stock had a trading volume of 825,247 shares, compared to its average volume of 887,534. The company’s fifty day moving average is $139.23 and its 200-day moving average is $157.60. Generac has a 1 year low of $122.90 and a 1 year high of $195.94. The company has a market capitalization of $7.53 billion, a P/E ratio of 23.39, a price-to-earnings-growth ratio of 1.44 and a beta of 1.50. The company has a quick ratio of 0.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.48.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, February 12th. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.31. Generac had a return on equity of 18.17% and a net margin of 7.36%. On average, research analysts expect that Generac will post 8 earnings per share for the current fiscal year.

About Generac

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.