GMR Solutions Inc. (NYSE:GMRS) Shares Shorted: Short Interest Up 60.9% in September

Key Points

• Short interest surged 60.9% in September to 4.07 million shares, representing approximately 7.5% of GMRS’s outstanding shares and 2.7 days to cover.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $18.78, despite one sell rating.
• GMR Solutions reported a quarterly loss of $1.84 per share, missing estimates by $2.22, while insiders sold 2.35 million shares worth approximately $28.7 million over the past 90 days.

GMR Solutions Inc. (NYSE:GMRS - Get Free Report) saw a significant growth in short interest in September. As of September 30th, there was short interest totaling 4,068,015 shares, a growth of 60.9% from the September 15th total of 2,528,187 shares. Based on an average daily trading volume, of 1,520,425 shares, the days-to-cover ratio is currently 2.7 days. Approximately 7.5% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GMRS. Weiss Ratings assumed coverage on shares of GMR Solutions in a research report on Friday, August 14th. They set a "sell (d)" rating on the stock. JPMorgan Chase & Co. lifted their price target on shares of GMR Solutions from $15.00 to $16.00 and gave the company an "overweight" rating in a research report on Friday, September 11th. Finally, The Goldman Sachs Group set a $30.00 price target on GMR Solutions in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $18.78.

GMR Solutions Stock Performance

Shares of NYSE GMRS traded down $0.01 during mid-day trading on Friday, reaching $10.38. The company had a trading volume of 20,953 shares, compared to its average volume of 897,633. The company has a debt-to-equity ratio of 5.50, a quick ratio of 2.01 and a current ratio of 2.01. GMR Solutions has a one year low of $8.99 and a one year high of $15.98. The firm has a market cap of $560.73 million and a price-to-earnings ratio of -6.65. The company has a 50-day moving average price of $12.08.

GMR Solutions (NYSE:GMRS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($1.84) 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. GMR Solutions's revenue for the quarter was up 3.3% compared to the same quarter last year. On average, sell-side analysts anticipate that GMR Solutions will post 1.68 EPS for the current year.

Insider Buying and Selling

In other news, EVP Lisa Jacoba sold 92,680 shares of the business's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $12.20, for a total value of $1,130,696.00. Following the completion of the sale, the executive vice president owned 198,603 shares of the company's stock, valued at approximately $2,422,956.60. The trade was a 31.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Thomas A. A Cook sold 251,882 shares of the company's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $12.20, for a total transaction of $3,072,960.40. Following the completion of the transaction, the executive vice president owned 675,686 shares in the company, valued at $8,243,369.20. This trade represents a 27.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 2,353,423 shares of company stock valued at $28,711,761 in the last 90 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Two Sigma Securities LLC acquired a new position in GMR Solutions during the second quarter valued at approximately $169,000. Premier Path Wealth Partners LLC acquired a new stake in shares of GMR Solutions in the 2nd quarter valued at $348,000. Squarepoint Ops LLC acquired a new stake in shares of GMR Solutions in the 2nd quarter valued at $801,000. State Street Corp acquired a new stake in shares of GMR Solutions in the 2nd quarter valued at $2,542,000. Finally, HBK Investments L P bought a new position in shares of GMR Solutions in the 2nd quarter valued at $3,092,000.

GMR Solutions Company Profile

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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