GMR Solutions Inc. (NYSE:GMRS) Sees Significant Growth in Short Interest

Key Points

• Short interest surged 82% to 2.46 million shares as of August 14, representing approximately 4.5% of GMRS’s outstanding shares and 2.6 days to cover.
• GMR Solutions reported a quarterly loss of $1.84 per share, missing the $0.38 consensus estimate by $2.22, while revenue rose 3.3% year over year to $1.49 billion.
• Institutional investors including Alyeska Investment Group and Readystate Asset Management established sizable positions, while analysts maintained a consensus “Moderate Buy” rating with an $18.67 price target despite ratings ranging from Sell to Strong Buy.

GMR Solutions Inc. (NYSE:GMRS - Get Free Report) was the recipient of a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 2,457,386 shares, an increase of 82.0% from the July 30th total of 1,349,980 shares. Based on an average daily volume of 961,346 shares, the days-to-cover ratio is presently 2.6 days. Approximately 4.5% of the shares of the company are short sold.

Institutional Investors Weigh In On GMR Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of GMRS. Two Sigma Securities LLC purchased a new stake in shares of GMR Solutions during the second quarter worth $169,000. Premier Path Wealth Partners LLC purchased a new position in shares of GMR Solutions in the second quarter valued at $348,000. Readystate Asset Management LP bought a new stake in shares of GMR Solutions during the 2nd quarter valued at $12,936,000. Finally, Alyeska Investment Group L.P. bought a new stake in shares of GMR Solutions during the 2nd quarter valued at $36,817,000.

GMR Solutions Trading Up 0.9%

Shares of GMRS stock traded up $0.11 on Friday, hitting $12.68. 261,413 shares of the stock were exchanged, compared to its average volume of 797,963. The firm has a 50 day moving average price of $13.59. GMR Solutions has a one year low of $10.26 and a one year high of $15.98. The company has a market capitalization of $685.00 million and a price-to-earnings ratio of -8.13. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 5.50.

GMR Solutions (NYSE:GMRS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($1.84) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($2.22). The company had revenue of $1.49 billion during the quarter. The firm's quarterly revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts expect that GMR Solutions will post 1.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on GMRS. Needham & Company LLC set a $18.00 target price on GMR Solutions in a research note on Monday, June 8th. JPMorgan Chase & Co. started coverage on shares of GMR Solutions in a report on Monday, June 8th. They set an "overweight" rating and a $15.00 price objective for the company. Morgan Stanley began coverage on shares of GMR Solutions in a research report on Monday, June 8th. They issued an "equal weight" rating and a $14.00 price objective on the stock. Weiss Ratings started coverage on shares of GMR Solutions in a research report on Friday, August 14th. They set a "sell (d)" rating for the company. Finally, Bank of America initiated coverage on shares of GMR Solutions in a research note on Monday, June 8th. They set a "buy" rating and a $18.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $18.67.

About GMR Solutions

GMR Solutions Inc is a provider of emergency medical services delivering EMS and other essential out-of-hospital care in rural and urban communities. GMR Solutions Inc is based in Lewisville, Texas.

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