Methode Electronics, Inc. (NYSE:MEI) Short Interest Down 26.1% in May

Methode Electronics, Inc. (NYSE:MEI - Get Free Report) was the recipient of a significant decrease in short interest in May. As of May 31st, there was short interest totalling 1,050,000 shares, a decrease of 26.1% from the May 15th total of 1,420,000 shares. Based on an average daily volume of 372,400 shares, the short-interest ratio is currently 2.8 days. Approximately 3.2% of the company's stock are sold short.

Methode Electronics Stock Performance

Shares of Methode Electronics stock traded down $0.07 on Friday, reaching $9.03. The stock had a trading volume of 550,985 shares, compared to its average volume of 436,145. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.75 and a current ratio of 2.84. The business's 50-day moving average price is $7.39 and its two-hundred day moving average price is $9.08. The stock has a market cap of $322.28 million, a P/E ratio of -3.46 and a beta of 0.97. Methode Electronics has a fifty-two week low of $5.08 and a fifty-two week high of $17.45.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in Methode Electronics by 93.8% during the first quarter. AQR Capital Management LLC now owns 932,833 shares of the electronics maker's stock valued at $5,951,000 after acquiring an additional 451,529 shares during the period. Federated Hermes Inc. lifted its position in shares of Methode Electronics by 46.2% during the 4th quarter. Federated Hermes Inc. now owns 1,413,611 shares of the electronics maker's stock worth $16,666,000 after purchasing an additional 446,398 shares during the last quarter. Nuveen LLC bought a new stake in Methode Electronics during the 1st quarter valued at approximately $2,379,000. Hotchkis & Wiley Capital Management LLC grew its holdings in Methode Electronics by 29.1% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 1,553,250 shares of the electronics maker's stock valued at $9,910,000 after buying an additional 349,890 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Methode Electronics by 2,396.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 287,440 shares of the electronics maker's stock valued at $3,389,000 after buying an additional 275,926 shares during the last quarter. Institutional investors own 95.49% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on MEI shares. Sidoti raised shares of Methode Electronics from a "neutral" rating to a "buy" rating and set a $14.00 target price on the stock in a research report on Tuesday, February 25th. Robert W. Baird lowered their price objective on Methode Electronics from $9.00 to $7.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th.

About Methode Electronics

Methode Electronics, Inc designs, engineers, and produces mechatronic products worldwide. It operates through four segments: Automotive, Industrial, Interface, and Medical. The Automotive segment supplies electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.