Mayville Engineering Company, Inc. (NYSE:MEC) Short Interest Update

Mayville Engineering Company, Inc. (NYSE:MEC - Get Free Report) saw a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 291,000 shares, a growth of 27.9% from the May 15th total of 227,500 shares. Based on an average daily volume of 112,400 shares, the short-interest ratio is currently 2.6 days. Approximately 1.9% of the company's stock are short sold.

Mayville Engineering Stock Performance

Shares of NYSE MEC traded up $0.11 during midday trading on Friday, hitting $16.03. The company's stock had a trading volume of 157,733 shares, compared to its average volume of 115,747. Mayville Engineering has a 1-year low of $11.72 and a 1-year high of $23.02. The firm's fifty day moving average price is $14.36 and its 200-day moving average price is $14.83. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 1.67. The firm has a market cap of $327.95 million, a P/E ratio of 14.84 and a beta of 1.18.

Mayville Engineering (NYSE:MEC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. The business had revenue of $135.58 million during the quarter, compared to analyst estimates of $134.52 million. Mayville Engineering had a net margin of 4.09% and a return on equity of 9.30%. During the same period in the previous year, the business posted $0.22 EPS. On average, sell-side analysts forecast that Mayville Engineering will post 0.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. DA Davidson assumed coverage on shares of Mayville Engineering in a research report on Tuesday. They issued a "buy" rating and a $23.00 target price for the company. Citigroup dropped their target price on shares of Mayville Engineering from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Monday, April 14th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nokomis Capital L.L.C. lifted its stake in shares of Mayville Engineering by 270.0% in the 4th quarter. Nokomis Capital L.L.C. now owns 449,792 shares of the company's stock worth $7,071,000 after acquiring an additional 328,223 shares during the period. Granahan Investment Management LLC lifted its stake in shares of Mayville Engineering by 71.2% in the 4th quarter. Granahan Investment Management LLC now owns 578,967 shares of the company's stock worth $9,101,000 after acquiring an additional 240,752 shares during the period. CenterBook Partners LP acquired a new stake in shares of Mayville Engineering in the 1st quarter worth approximately $1,324,000. Polar Asset Management Partners Inc. acquired a new stake in shares of Mayville Engineering in the 4th quarter worth approximately $1,518,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Mayville Engineering by 13.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 704,659 shares of the company's stock worth $11,077,000 after acquiring an additional 85,086 shares during the period. 45.44% of the stock is owned by institutional investors and hedge funds.

Mayville Engineering Company Profile

Mayville Engineering Company, Inc, together with its subsidiaries, engages in the production, design, prototyping and tooling, fabrication, aluminum extrusion, coating, and assembling of aftermarket components in the United States. It also supplies engineered components to original equipment manufacturers.