Barnes Group Inc. (NYSE:B) Short Interest Up 7.4% in December

Barnes Group Inc. (NYSE:B) was the recipient of a large growth in short interest in December. As of December 15th, there was short interest totalling 790,000 shares, a growth of 7.4% from the November 30th total of 735,500 shares. Based on an average daily volume of 800,100 shares, the short-interest ratio is currently 1.0 days. Approximately 1.6% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

B has been the subject of a number of research analyst reports. StockNews.com started coverage on Barnes Group in a research report on Saturday. They issued a “sell” rating for the company. DA Davidson reiterated a “neutral” rating and set a $47.50 target price (down previously from $52.00) on shares of Barnes Group in a report on Monday, October 7th. Finally, Truist Financial raised their price target on Barnes Group from $38.00 to $47.50 and gave the stock a “hold” rating in a research report on Tuesday, October 8th.

Barnes Group Stock Performance

Shares of Barnes Group stock remained flat at $47.26 during mid-day trading on Wednesday. 586,718 shares of the company’s stock traded hands, compared to its average volume of 449,488. The company has a market cap of $2.41 billion, a PE ratio of -61.38 and a beta of 1.34. Barnes Group has a one year low of $29.67 and a one year high of $47.40. The company has a quick ratio of 1.35, a current ratio of 2.28 and a debt-to-equity ratio of 0.87. The stock has a fifty day moving average of $46.92 and a 200-day moving average of $42.78.

Hedge Funds Weigh In On Barnes Group

Several institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Barnes Group by 17.1% during the third quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock worth $66,000 after buying an additional 238 shares during the period. SG Americas Securities LLC acquired a new position in shares of Barnes Group during the 3rd quarter valued at about $178,000. Centiva Capital LP purchased a new position in shares of Barnes Group during the 3rd quarter worth about $212,000. Captrust Financial Advisors acquired a new stake in shares of Barnes Group in the third quarter worth approximately $224,000. Finally, Needham Investment Management LLC purchased a new stake in Barnes Group in the third quarter valued at approximately $242,000. Hedge funds and other institutional investors own 90.82% of the company’s stock.

About Barnes Group

Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. The company operates through two segments: Industrial and Aerospace. The Industrial segment offers precision components, products, and systems used by various customers in end-markets, such as mobility, industrial equipment, automation, personal care, packaging, electronics, and medical devices.