SMTC Co. (NASDAQ:SMTX) Short Interest Down 41.6% in December

SMTC Co. (NASDAQ:SMTX) was the target of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 16,700 shares, a decrease of 41.6% from the December 15th total of 28,600 shares. Based on an average daily volume of 101,900 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are sold short.

Several analysts recently commented on the company. Craig Hallum cut SMTC from a “buy” rating to a “hold” rating in a research report on Monday, January 4th. B. Riley raised their target price on SMTC from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. ValuEngine upgraded SMTC from a “strong sell” rating to a “sell” rating in a research report on Tuesday, January 5th. Finally, Zacks Investment Research cut SMTC from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. SMTC currently has a consensus rating of “Hold” and a consensus price target of $5.38.

Hedge funds have recently modified their holdings of the company. Morgan Stanley increased its position in shares of SMTC by 550.6% during the 3rd quarter. Morgan Stanley now owns 10,000 shares of the technology company’s stock valued at $36,000 after purchasing an additional 8,463 shares during the period. Bridgeway Capital Management Inc. increased its position in shares of SMTC by 29.3% during the 2nd quarter. Bridgeway Capital Management Inc. now owns 132,434 shares of the technology company’s stock valued at $401,000 after purchasing an additional 30,000 shares during the period. Punch & Associates Investment Management Inc. increased its position in shares of SMTC by 16.9% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 243,000 shares of the technology company’s stock valued at $880,000 after purchasing an additional 35,100 shares during the period. Finally, Pacific Ridge Capital Partners LLC increased its position in shares of SMTC by 1.1% during the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 491,603 shares of the technology company’s stock valued at $1,780,000 after purchasing an additional 5,395 shares during the period. Institutional investors own 17.57% of the company’s stock.

SMTX opened at $5.90 on Thursday. SMTC has a 12 month low of $1.32 and a 12 month high of $5.96. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.23 and a quick ratio of 0.85. The stock has a market cap of $166.47 million, a P/E ratio of -58.99 and a beta of 1.30. The stock’s 50 day moving average price is $4.95 and its 200 day moving average price is $3.85.

SMTC (NASDAQ:SMTX) last issued its quarterly earnings results on Wednesday, November 11th. The technology company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.02. SMTC had a positive return on equity of 20.56% and a negative net margin of 0.83%. The company had revenue of $99.55 million for the quarter, compared to analysts’ expectations of $92.50 million. Equities analysts anticipate that SMTC will post 0.18 EPS for the current year.

SMTC Company Profile

SMTC Corporation provides electronics manufacturing services in the United States, Canada, and Mexico. The company offers end-to-end electronics manufacturing services, including product design and engineering; printed circuit board assembly; production, enclosure, cable assembly, and precision metal fabrication; systems integration and testing; and configuration to order, build to order, and direct order fulfillment services.

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