Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Short Interest Up 70.2% in July

Key Points

• Espey Mfg. & Electronics Corp. experienced a 70.2% increase in short interest in July, bringing the total to 17,700 shares.
• CEO David A. Oneil sold 2,000 shares of the company at $36.52, reducing his ownership by 16.67%.
• Institutional investors hold 36.65% of Espey Mfg. & Electronics stock, with notable acquisitions made during the fourth quarter.

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP - Get Free Report) was the target of a large growth in short interest in July. As of July 15th, there was short interest totaling 17,700 shares, agrowthof70.2% from the June 30th total of 10,400 shares. Currently,0.8% of the company's stock are sold short. Based on an average trading volume of 28,600 shares, the days-to-cover ratio is currently 0.6 days. Based on an average trading volume of 28,600 shares, the days-to-cover ratio is currently 0.6 days. Currently,0.8% of the company's stock are sold short.

Insider Buying and Selling at Espey Mfg. & Electronics

In other news, Director Michael W. Wool sold 1,600 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $35.49, for a total value of $56,784.00. Following the completion of the sale, the director owned 14,900 shares of the company's stock, valued at approximately $528,801. The trade was a 9.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David A. Oneil sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $36.52, for a total transaction of $73,040.00. Following the completion of the sale, the chief executive officer owned 10,000 shares in the company, valued at $365,200. The trade was a 16.67% decrease in their position. The disclosure for this sale can be found here. Insiders own 6.78% of the company's stock.

Institutional Trading of Espey Mfg. & Electronics

Hedge funds have recently modified their holdings of the stock. Copeland Capital Management LLC acquired a new stake in Espey Mfg. & Electronics during the 1st quarter worth approximately $56,000. Secure Asset Management LLC lifted its position in shares of Espey Mfg. & Electronics by 37.9% in the 1st quarter. Secure Asset Management LLC now owns 9,195 shares of the company's stock worth $249,000 after purchasing an additional 2,528 shares during the period. Citadel Advisors LLC lifted its position in shares of Espey Mfg. & Electronics by 10.0% in the 4th quarter. Citadel Advisors LLC now owns 8,299 shares of the company's stock worth $250,000 after purchasing an additional 756 shares during the period. American Century Companies Inc. acquired a new position in shares of Espey Mfg. & Electronics in the 4th quarter worth approximately $258,000. Finally, EAM Investors LLC acquired a new position in shares of Espey Mfg. & Electronics in the 4th quarter worth approximately $462,000. Institutional investors and hedge funds own 36.65% of the company's stock.

Espey Mfg. & Electronics Price Performance

ESP traded up $0.07 during midday trading on Friday, hitting $43.03. The company had a trading volume of 22,296 shares, compared to its average volume of 33,294. The company has a market capitalization of $121.77 million, a P/E ratio of 16.06 and a beta of 0.11. Espey Mfg. & Electronics has a twelve month low of $20.50 and a twelve month high of $52.68. The firm has a 50-day moving average price of $44.85.

About Espey Mfg. & Electronics

Espey Manufacturing & Electronics Corp. is a power electronics design and original equipment manufacturing company, which engages in developing and delivering products for use in military and severe environment applications. Its products include power supplies, converters, transformers, filters, magnetic components, power distribution equipment, uninterruptible power supply (UPS) systems, and antennas.