Mesa Laboratories, Inc. (NASDAQ:MLAB) Short Interest Update

Key Points

• Mesa Laboratories, Inc. saw a significant increase in short interest of 28.0% in August, with total short interest reaching 398,700 shares.
• The company's stock was down 3.4% on Tuesday, trading at $61.59, compared to a 52-week range between $55.45 and $155.12.
• Mesa Laboratories announced a quarterly dividend of $0.16 per share, with a yield of 1.0%, to be paid on September 15th.

Mesa Laboratories, Inc. (NASDAQ:MLAB - Get Free Report) was the recipient of a significant growth in short interest in August. As of August 15th, there was short interest totaling 398,700 shares, a growth of 28.0% from the July 31st total of 311,600 shares. Based on an average daily trading volume, of 153,200 shares, the days-to-cover ratio is presently 2.6 days. Based on an average daily trading volume, of 153,200 shares, the days-to-cover ratio is presently 2.6 days.

Mesa Laboratories Trading Down 2.3%

Shares of MLAB traded down $1.43 during midday trading on Friday, hitting $61.66. The stock had a trading volume of 195,743 shares, compared to its average volume of 108,700. The firm has a market cap of $339.13 million, a PE ratio of -440.43 and a beta of 0.82. Mesa Laboratories has a 1 year low of $55.45 and a 1 year high of $155.12. The stock's 50 day moving average is $71.27 and its 200 day moving average is $99.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.66 and a quick ratio of 0.47.

Mesa Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 29th. Mesa Laboratories's dividend payout ratio (DPR) is currently -457.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MLAB shares. Wells Fargo & Company raised shares of Mesa Laboratories from an "underweight" rating to an "equal weight" rating and decreased their price target for the company from $100.00 to $67.00 in a research note on Thursday, August 7th. Zacks Research raised shares of Mesa Laboratories from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Finally, Wall Street Zen downgraded shares of Mesa Laboratories from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $113.50.

Insider Transactions at Mesa Laboratories

In related news, CEO Gary M. Owens sold 1,939 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $97.12, for a total transaction of $188,315.68. Following the sale, the chief executive officer owned 45,824 shares of the company's stock, valued at $4,450,426.88. This represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Brian David Archbold sold 472 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $97.12, for a total transaction of $45,840.64. Following the sale, the senior vice president directly owned 558 shares in the company, valued at approximately $54,192.96. The trade was a 45.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,053 shares of company stock valued at $296,507. 4.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming increased its stake in Mesa Laboratories by 501.4% in the 1st quarter. State of Wyoming now owns 427 shares of the medical instruments supplier's stock worth $51,000 after buying an additional 356 shares during the period. Quantbot Technologies LP bought a new position in Mesa Laboratories during the 1st quarter worth about $67,000. BNP Paribas Financial Markets grew its holdings in Mesa Laboratories by 115.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 786 shares of the medical instruments supplier's stock worth $74,000 after acquiring an additional 421 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Mesa Laboratories by 432.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 842 shares of the medical instruments supplier's stock worth $79,000 after acquiring an additional 684 shares in the last quarter. Finally, US Bancorp DE grew its holdings in Mesa Laboratories by 48.3% during the 1st quarter. US Bancorp DE now owns 1,323 shares of the medical instruments supplier's stock worth $157,000 after acquiring an additional 431 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company's stock.

About Mesa Laboratories

Mesa Laboratories, Inc develops, designs, manufactures, sells, and services life sciences tools and quality control products and services in North America, Europe, the Asia Pacific, and internationally. The Sterilization and Disinfection Control segment offers biological, chemical, and cleaning indicators, used to assess the effectiveness of sterilization decontamination, disinfection, and cleaning processes in the pharmaceutical, medical device, and healthcare industries.