Short Interest in Gibraltar Industries, Inc. (NASDAQ:ROCK) Grows By 23.6%

Gibraltar Industries, Inc. (NASDAQ:ROCK) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 497,300 shares, a growth of 23.6% from the October 15th total of 402,200 shares. Based on an average daily volume of 181,500 shares, the days-to-cover ratio is presently 2.7 days. Currently, 1.7% of the shares of the stock are short sold.

Gibraltar Industries Stock Down 1.9 %

Shares of ROCK traded down $1.35 on Friday, reaching $70.66. The stock had a trading volume of 100,015 shares, compared to its average volume of 176,011. Gibraltar Industries has a twelve month low of $61.92 and a twelve month high of $87.40. The firm has a market capitalization of $2.14 billion, a PE ratio of 19.63 and a beta of 1.14. The firm has a 50-day moving average of $69.19 and a 200 day moving average of $70.26.

Gibraltar Industries (NASDAQ:ROCK) last posted its earnings results on Wednesday, October 30th. The construction company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.01. The company had revenue of $361.20 million for the quarter, compared to analyst estimates of $360.43 million. Gibraltar Industries had a return on equity of 13.13% and a net margin of 8.28%. Gibraltar Industries’s revenue was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.38 earnings per share. On average, sell-side analysts anticipate that Gibraltar Industries will post 4.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 22nd.

Hedge Funds Weigh In On Gibraltar Industries

Hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC grew its position in shares of Gibraltar Industries by 271.6% in the third quarter. Farther Finance Advisors LLC now owns 379 shares of the construction company’s stock valued at $27,000 after purchasing an additional 277 shares during the last quarter. Innealta Capital LLC acquired a new stake in Gibraltar Industries during the 2nd quarter valued at $39,000. GAMMA Investing LLC increased its position in Gibraltar Industries by 30.6% during the third quarter. GAMMA Investing LLC now owns 725 shares of the construction company’s stock worth $51,000 after buying an additional 170 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Gibraltar Industries in the second quarter worth $55,000. Finally, Quarry LP raised its holdings in shares of Gibraltar Industries by 428.9% in the second quarter. Quarry LP now owns 989 shares of the construction company’s stock worth $68,000 after acquiring an additional 802 shares during the last quarter. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Gibraltar Industries Company Profile

Gibraltar Industries, Inc manufactures and provides products and services for the renewable energy, residential, agtech, and infrastructure markets in the United States and internationally. It operates through four segments: Renewables, Residential, Agtech, and Infrastructure. The Renewables segment designs, engineers, manufactures, and installs solar racking and electrical balance of systems for commercial and distributed generation scale solar installations.