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 target of a large 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 volume of 153,200 shares, the days-to-cover ratio is currently 2.6 days. Based on an average daily volume of 153,200 shares, the days-to-cover ratio is currently 2.6 days.

Insiders Place Their Bets

In other Mesa Laboratories news, SVP Brian David Archbold sold 472 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $97.12, for a total value of $45,840.64. Following the transaction, the senior vice president directly owned 558 shares of the company's stock, valued at approximately $54,192.96. This trade represents a 45.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John Sakys sold 642 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $97.12, for a total transaction of $62,351.04. Following the transaction, the chief financial officer directly owned 12,865 shares in the company, valued at $1,249,448.80. The trade was a 4.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,053 shares of company stock worth $296,507. Insiders own 4.90% of the company's stock.

Institutional Investors Weigh In On Mesa Laboratories

Several hedge funds have recently bought and sold shares of MLAB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Mesa Laboratories by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,925 shares of the medical instruments supplier's stock valued at $386,000 after buying an additional 98 shares during the period. Franklin Resources Inc. raised its position in shares of Mesa Laboratories by 5.5% during the 2nd quarter. Franklin Resources Inc. now owns 3,476 shares of the medical instruments supplier's stock valued at $328,000 after buying an additional 182 shares during the period. American Century Companies Inc. raised its position in shares of Mesa Laboratories by 1.5% during the 2nd quarter. American Century Companies Inc. now owns 13,431 shares of the medical instruments supplier's stock valued at $1,265,000 after buying an additional 194 shares during the period. State of Alaska Department of Revenue raised its position in shares of Mesa Laboratories by 7.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,224 shares of the medical instruments supplier's stock valued at $303,000 after buying an additional 213 shares during the period. Finally, Royal Bank of Canada raised its position in shares of Mesa Laboratories by 1.2% during the 1st quarter. Royal Bank of Canada now owns 30,772 shares of the medical instruments supplier's stock valued at $3,652,000 after buying an additional 353 shares during the period. Institutional investors own 90.60% of the company's stock.

Mesa Laboratories Trading Down 3.6%

Shares of NASDAQ MLAB traded down $2.25 during trading hours on Friday, hitting $60.85. The company's stock had a trading volume of 77,998 shares, compared to its average volume of 88,372. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.47 and a current ratio of 0.66. The stock has a market cap of $334.77 million, a price-to-earnings ratio of -434.20 and a beta of 0.82. Mesa Laboratories has a 12 month low of $55.45 and a 12 month high of $155.12. The business has a 50-day simple moving average of $72.09 and a 200-day simple moving average of $99.91.

Mesa Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.64 annualized dividend and a yield of 1.1%. Mesa Laboratories's dividend payout ratio (DPR) is currently -457.14%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MLAB shares. Wells Fargo & Company upgraded shares of Mesa Laboratories from an "underweight" rating to an "equal weight" rating and reduced their target price for the stock from $100.00 to $67.00 in a research note on Thursday, August 7th. Zacks Research raised Mesa Laboratories from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Finally, Wall Street Zen cut Mesa Laboratories from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $113.50.

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.