Short Interest in American Vanguard Corporation (NYSE:AVD) Declines By 23.5%

Key Points

• American Vanguard Corporation experienced a 23.5% decline in short interest in August, with a total of 564,800 shares short sold as of August 31st, representing 2.2% of its total shares.
• Equities research analysts have upgraded American Vanguard from a "hold" to a "buy" rating, with a consensus rating of "Buy" and an average price target of $12.00.
• The company's stock price rose 3.1%, closing at $5.74, and it reported earnings of ($0.03) per share in its latest quarter, exceeding analysts' expectations.

American Vanguard Corporation (NYSE:AVD - Get Free Report) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totaling 564,800 shares, a decline of 23.5% from the August 15th total of 738,300 shares. Currently, 2.2% of the company's stock are sold short. Based on an average trading volume of 239,900 shares, the short-interest ratio is presently 2.4 days. Based on an average trading volume of 239,900 shares, the short-interest ratio is presently 2.4 days. Currently, 2.2% of the company's stock are sold short.

American Vanguard Trading Down 7.2%

NYSE:AVD traded down $0.42 on Friday, reaching $5.38. 381,718 shares of the stock traded hands, compared to its average volume of 156,371. The firm has a market capitalization of $152.96 million, a price-to-earnings ratio of -1.20 and a beta of 1.26. The company's 50 day moving average is $4.77 and its 200-day moving average is $4.42. The company has a current ratio of 1.91, a quick ratio of 1.00 and a debt-to-equity ratio of 0.82. American Vanguard has a 1-year low of $3.28 and a 1-year high of $6.68.

American Vanguard (NYSE:AVD - Get Free Report) last released its earnings results on Thursday, July 31st. The basic materials company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.08. The business had revenue of $129.31 million during the quarter, compared to the consensus estimate of $130.00 million. American Vanguard had a negative net margin of 23.72% and a negative return on equity of 26.21%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AVD. Lake Street Capital lowered their price target on American Vanguard from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Monday, June 9th. Wall Street Zen upgraded American Vanguard from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $12.00.

Hedge Funds Weigh In On American Vanguard

A number of large investors have recently modified their holdings of AVD. Strs Ohio bought a new position in shares of American Vanguard in the 1st quarter worth $28,000. CWM LLC lifted its stake in American Vanguard by 134.7% during the 1st quarter. CWM LLC now owns 9,425 shares of the basic materials company's stock valued at $41,000 after acquiring an additional 5,410 shares in the last quarter. Aigen Investment Management LP bought a new position in American Vanguard during the 1st quarter valued at $44,000. Cerity Partners LLC bought a new position in American Vanguard during the 1st quarter valued at $48,000. Finally, XTX Topco Ltd bought a new position in American Vanguard during the 2nd quarter valued at $57,000. 79.00% of the stock is currently owned by institutional investors.

American Vanguard Company Profile

American Vanguard Corporation, through its subsidiaries, develops, manufactures, and markets specialty chemicals for agricultural, commercial, and consumer uses in the United States and internationally. It manufactures and formulates chemicals, including insecticides, fungicides, herbicides, soil health, plant nutrition, molluscicides, growth regulators, soil fumigants, and biorationals in liquid, powder, and granular forms for crops, turf and ornamental plants, and human and animal health protection.