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Saturday, April 17, 2021

Update On ECHO Stock After Facing A Major Surge In Short Interest

Echo Global Logistics (NASDAQ: ECHO) has been the target for the major surge in short-interest during November. On 15th November, the short interest comprised of shares of a total of 1,010,000 while shares totaling 919,000 increased by 9.8% since 31st October.

At present, the shares of 3.9% have been sold short. 145,200 total shares have a current short-interest quotient of 7.0 on the basis of the volume of the daily average.

ECHO Stock Transactions

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ECHO opened on Monday at about $29.41 and a market cap of $782.54 million. The ratio of quick, current, and debt-to-equity is 1.29, 1.29, and 0.37, respectively. Their lowest in 52 weeks is $14.17 while $31.23 is the highest. The moving average price for 50-day is $28.51 along with 200-day is $25.36.

On 28th October they issued the earnings results showing an EPS of $0.40 in that quarter which surpassed the estimate by a value of  $0.11. The equity return of the company is $5.13% with a 0.28% total margin. Their quarterly revenue was $691.50 M that surpassed the estimation of the value of $601.67 M.

David Menzel, COO, sold shares of a total of 20,000 worth $586,600 on 11th November at $29.33 EPS. Insiders possess 2.70% of ECHO stock.

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BlackRock Inc. increased 10.7% holdings on ECHO stock during Q3 and presently possess 4,702,471 shares valued at $121,183,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Barrington Research increased the objective price to $36 and gave a rating of ‘outperform’. Morgan Stanley increased it to $25 with an ‘equal weight’ rating. Zacks gave a $32 price target with a ‘buy’ rating. Cowen promoted the price aim to $37 and gave an ‘outperform’ rating. BidaskClub demoted it to ‘buy’ from ‘strong buy’ rating.

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