LGL Group, Inc. (The) (NYSEAMERICAN:LGL) Shares Shorted: Short Interest Up 51.9% in September

Key Points

• LGL Group’s short interest rose 51.9% to 22,658 shares as of September 15, representing 0.2% of shares outstanding and a one-day short-interest coverage ratio.
• The stock opened at $6.87, with a 12-month range of $5.45 to $7.88 and a market capitalization of approximately $86.6 million.
• LGL Group missed quarterly expectations, reporting a loss of $0.06 per share versus the $0.01 consensus estimate, while revenue of $0.75 million also fell short of forecasts.

LGL Group, Inc. (The) (NYSEAMERICAN:LGL - Get Free Report) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 22,658 shares, a growth of 51.9% from the August 31st total of 14,915 shares. Currently, 0.2% of the company's shares are sold short. Based on an average daily volume of 21,616 shares, the days-to-cover ratio is currently 1.0 days.

LGL Group Price Performance

LGL stock opened at $6.87 on Thursday. The company has a market capitalization of $86.57 million, a PE ratio of -171.65 and a beta of 0.32. LGL Group has a 12 month low of $5.45 and a 12 month high of $7.88. The firm's 50-day moving average is $7.16 and its 200 day moving average is $7.06.

LGL Group (NYSEAMERICAN:LGL - Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The industrial products company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.07). The company had revenue of $0.75 million for the quarter, compared to the consensus estimate of $0.80 million. LGL Group had a negative net margin of 5.04% and a negative return on equity of 0.51%. Sell-side analysts forecast that LGL Group will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On LGL Group

A number of institutional investors and hedge funds have recently bought and sold shares of LGL. BlackRock Inc. bought a new position in shares of LGL Group during the 2nd quarter worth $93,000. Cable Car Capital LP bought a new stake in shares of LGL Group in the second quarter valued at about $346,000. Renaissance Technologies LLC raised its holdings in shares of LGL Group by 3.6% in the first quarter. Renaissance Technologies LLC now owns 166,594 shares of the industrial products company's stock valued at $1,158,000 after acquiring an additional 5,773 shares in the last quarter. Bard Associates Inc. purchased a new stake in LGL Group in the second quarter worth about $3,378,000. Finally, Gamco Investors INC. ET AL grew its holdings in LGL Group by 2.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 670,781 shares of the industrial products company's stock worth $4,662,000 after acquiring an additional 18,305 shares in the last quarter. 30.28% of the stock is owned by institutional investors.

LGL Group Company Profile

The LGL Group, Inc is a diversified industrial company whose principal operating activities have historically focused on electronic components and frequency-control products. Through its MtronPTI business, the company designs and manufactures products used to generate, control, filter and distribute precise timing and frequency signals.

Its product offerings include crystal oscillators, temperature-compensated and oven-controlled oscillators, voltage-controlled oscillators, crystal resonators, filters and related radio-frequency and microwave components.

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