Andersen Group Inc. (NYSE:ANDG) Stock Short Interest Report for September

Key Points

• Short interest surged 55% in September to 3.02 million shares, representing approximately 3.1% of Andersen Group’s outstanding shares and a days-to-cover ratio of 5.2.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $56.14, despite ratings ranging from Strong Buy to Sell.
• ANDG shares traded at $58.38, near their 12-month high of $60.15. The company recently beat quarterly earnings expectations, reporting a loss of $0.09 per share versus the anticipated $0.16 loss.

Andersen Group Inc. (NYSE:ANDG - Get Free Report) saw a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 3,015,211 shares, an increase of 55.0% from the September 15th total of 1,945,580 shares. Approximately 3.1% of the shares of the company are sold short. Based on an average trading volume of 583,982 shares, the days-to-cover ratio is presently 5.2 days.

Institutional Investors Weigh In On Andersen Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Andersen Group by 353.9% during the third quarter. GAMMA Investing LLC now owns 1,498 shares of the company's stock valued at $81,000 after purchasing an additional 1,168 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Andersen Group by 512.0% in the first quarter. Bank of America Corp DE now owns 12,852 shares of the company's stock worth $350,000 after purchasing an additional 10,752 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in shares of Andersen Group in the fourth quarter worth $357,000. Bank of New York Mellon Corp increased its stake in shares of Andersen Group by 47.0% in the first quarter. Bank of New York Mellon Corp now owns 18,636 shares of the company's stock worth $507,000 after purchasing an additional 5,962 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Andersen Group during the 2nd quarter valued at $592,000.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ANDG. Weiss Ratings upgraded Andersen Group from a "sell (d-)" rating to a "sell (d+)" rating in a research note on Thursday, September 24th. Robert W. Baird upped their price target on shares of Andersen Group from $57.00 to $64.00 and gave the company an "outperform" rating in a research report on Monday, August 31st. Wells Fargo & Company increased their price objective on shares of Andersen Group from $38.00 to $49.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $56.00 price objective on shares of Andersen Group in a report on Friday, August 14th. Finally, Morgan Stanley raised their price objective on shares of Andersen Group from $27.00 to $54.00 and gave the stock an "equal weight" rating in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $56.14.

Andersen Group Stock Performance

Shares of NYSE:ANDG traded down $0.57 during midday trading on Friday, hitting $58.38. The company had a trading volume of 100,128 shares, compared to its average volume of 370,142. Andersen Group has a 12-month low of $18.12 and a 12-month high of $60.15. The company has a fifty day moving average of $53.79 and a two-hundred day moving average of $43.20. The company has a market cap of $6.60 billion and a price-to-earnings ratio of -110.13. The company has a debt-to-equity ratio of 7.82, a current ratio of 2.19 and a quick ratio of 2.19.

Andersen Group (NYSE:ANDG - Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.07. The company had revenue of $217.66 million for the quarter. On average, equities research analysts expect that Andersen Group will post 0.73 EPS for the current fiscal year.

About Andersen Group

Our mission is to deliver exceptional client service grounded in integrity, transparency, and excellence. Since our founding in 2002, we have experienced rapid and sustained growth, powered by our people, our values and our relentless commitment to innovative, client-focused solutions. Building on the rich traditions and culture of the former Arthur Andersen, we are driven by a bold vision to lead in a complex global marketplace, creating lasting value for our clients, our people and our investors.

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