Hexagon AB Unsponsored ADR (OTCMKTS:HXGBY) Stock Short Interest Rises 97.2%

Key Points

• Short interest nearly doubled: Hexagon’s short interest rose 97.2% to 102,580 shares as of October 15, though that represented approximately 0.0% of shares outstanding and only 0.3 days to cover.
• Quarterly results met expectations: Hexagon reported earnings of $0.09 per share, matching estimates, while revenue of $1.18 billion exceeded the $1.14 billion consensus forecast.
• Analysts remain cautious: The stock has a consensus “Hold” rating, with one Buy, two Hold, and one Sell recommendation. Shares opened at $11.04 and were down 0.9%.

Hexagon AB Unsponsored ADR (OTCMKTS:HXGBY - Get Free Report) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 102,580 shares, an increase of 97.2% from the September 30th total of 52,031 shares. Based on an average daily volume of 382,996 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.0% of the company's shares are short sold.

Hexagon Stock Down 0.9%

Shares of OTCMKTS HXGBY opened at $11.04 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.53. The firm has a market capitalization of $29.65 billion, a price-to-earnings ratio of 24.54 and a beta of 1.40. The stock has a 50 day moving average price of $10.20 and a 200 day moving average price of $10.17. Hexagon has a 52-week low of $8.00 and a 52-week high of $12.52.

Hexagon (OTCMKTS:HXGBY - Get Free Report) last released its quarterly earnings data on Friday, October 23rd. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.14 billion. Hexagon had a return on equity of 9.95% and a net margin of 22.96%. Sell-side analysts expect that Hexagon will post 0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

HXGBY has been the subject of a number of recent analyst reports. Citigroup reissued a "neutral" rating on shares of Hexagon in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Hexagon in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold".

Hexagon Company Profile

Hexagon AB is a Sweden-based technology company that develops digital reality, geospatial, and industrial intelligence solutions. Its products combine sensors, software, and autonomous technologies to help customers measure, design, manufacture, monitor, and manage physical environments and industrial operations.

The company serves industries including surveying and construction, manufacturing, infrastructure, mining, agriculture, public safety, and transportation. Its offerings include surveying instruments, positioning and measurement systems, 3D laser scanning, computer-aided manufacturing software, quality management tools, industrial asset management solutions, and digital twin technologies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.