Short Interest in Mayville Engineering Company, Inc. (NYSE:MEC) Expands By 27.9%

Mayville Engineering Company, Inc. (NYSE:MEC - Get Free Report) was the recipient of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 291,000 shares, an increase of 27.9% from the May 15th total of 227,500 shares. Currently, 1.9% of the company's shares are sold short. Based on an average trading volume of 112,400 shares, the days-to-cover ratio is presently 2.6 days.

Mayville Engineering Trading Up 1.6%

Mayville Engineering stock traded up $0.25 during trading on Thursday, reaching $15.94. The company had a trading volume of 220,740 shares, compared to its average volume of 115,588. Mayville Engineering has a 12-month low of $11.72 and a 12-month high of $23.02. 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 stock's 50 day moving average price is $14.22 and its two-hundred day moving average price is $14.86. The firm has a market capitalization of $326.13 million, a price-to-earnings ratio of 14.76 and a beta of 1.18.

Mayville Engineering (NYSE:MEC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.03. The company had revenue of $135.58 million for 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 quarter last year, the business earned $0.22 EPS. As a group, equities analysts expect that Mayville Engineering will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. DA Davidson assumed coverage on Mayville Engineering in a research note on Tuesday. They set a "buy" rating and a $23.00 price target on the stock. Citigroup reduced their target price on Mayville Engineering from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, April 14th.

Hedge Funds Weigh In On Mayville Engineering

Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in Mayville Engineering by 13.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 704,659 shares of the company's stock worth $11,077,000 after purchasing an additional 85,086 shares in the last quarter. Royce & Associates LP boosted its position in Mayville Engineering by 1.2% during the 1st quarter. Royce & Associates LP now owns 591,319 shares of the company's stock worth $7,941,000 after purchasing an additional 7,022 shares during the period. Granahan Investment Management LLC raised its holdings in shares of Mayville Engineering by 71.2% during the 4th quarter. Granahan Investment Management LLC now owns 578,967 shares of the company's stock valued at $9,101,000 after buying an additional 240,752 shares during the period. Nokomis Capital L.L.C. raised its stake in shares of Mayville Engineering by 270.0% during the fourth quarter. Nokomis Capital L.L.C. now owns 449,792 shares of the company's stock valued at $7,071,000 after purchasing an additional 328,223 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in Mayville Engineering by 10.8% in the 4th quarter. First Eagle Investment Management LLC now owns 332,375 shares of the company's stock worth $5,225,000 after buying an additional 32,500 shares in the last quarter. 45.44% of the stock is currently owned by hedge funds and other institutional investors.

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.