Short Interest in Resideo Technologies, Inc. (NYSE:REZI) Declines By 49.5%

Resideo Technologies, Inc. (NYSE:REZI) was the target of a large drop in short interest in September. As of September 30th, there was short interest totalling 2,110,000 shares, a drop of 49.5% from the September 15th total of 4,180,000 shares. Based on an average daily volume of 935,100 shares, the days-to-cover ratio is presently 2.3 days.

Wall Street Analyst Weigh In

Separately, Evercore ISI started coverage on Resideo Technologies in a research note on Friday, August 9th. They set an “outperform” rating and a $25.00 price target on the stock.

Institutional Trading of Resideo Technologies

A number of large investors have recently made changes to their positions in the stock. Nilsine Partners LLC raised its stake in Resideo Technologies by 3.3% in the 2nd quarter. Nilsine Partners LLC now owns 14,256 shares of the company’s stock valued at $279,000 after purchasing an additional 452 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Resideo Technologies by 3.4% during the second quarter. Commonwealth Equity Services LLC now owns 13,702 shares of the company’s stock worth $268,000 after acquiring an additional 454 shares during the last quarter. GAMMA Investing LLC boosted its position in Resideo Technologies by 50.0% during the second quarter. GAMMA Investing LLC now owns 1,592 shares of the company’s stock worth $31,000 after acquiring an additional 531 shares during the last quarter. Arizona State Retirement System grew its stake in Resideo Technologies by 1.3% in the 2nd quarter. Arizona State Retirement System now owns 40,683 shares of the company’s stock worth $796,000 after acquiring an additional 535 shares during the period. Finally, SummerHaven Investment Management LLC raised its holdings in Resideo Technologies by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 41,904 shares of the company’s stock valued at $820,000 after acquiring an additional 705 shares during the last quarter. Institutional investors and hedge funds own 91.71% of the company’s stock.

Resideo Technologies Price Performance

Shares of REZI stock traded up $0.57 during mid-day trading on Friday, reaching $20.51. The stock had a trading volume of 515,649 shares, compared to its average volume of 872,185. The company has a market cap of $3.00 billion, a P/E ratio of 17.38 and a beta of 2.07. Resideo Technologies has a 12-month low of $14.19 and a 12-month high of $23.43. The business has a 50-day simple moving average of $19.32 and a 200 day simple moving average of $20.29. The company has a current ratio of 1.81, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70.

Resideo Technologies (NYSE:REZI) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.20. Resideo Technologies had a net margin of 2.85% and a return on equity of 10.32%. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the company posted $0.34 EPS. The company’s revenue was down .8% on a year-over-year basis. On average, sell-side analysts anticipate that Resideo Technologies will post 1.92 earnings per share for the current year.

Resideo Technologies Company Profile

Resideo Technologies, Inc develops, manufactures, and sells comfort, energy management, and safety and security solutions to the commercial and residential end markets in the United States, Europe, and internationally. The company operates in two segments, Products and Solutions, and ADI Global Distribution.