Short Interest in Titan International, Inc. (NYSE:TWI) Increases By 112.9%

Key Points

• Short interest in Titan International, Inc. (NYSE:TWI) surged by 112.9% in July, reaching a total of 2,470,000 shares, which is about 5.2% of the company's shares.
• The company's recent earnings report showed a loss of ($0.02) per share, missing analysts' estimates, with revenue of $460.83 million compared to an expected $483.84 million.
• Institutional investors have shown increased interest, with significant stakes being modified; 80.39% of Titan International's stock is now owned by institutional investors.

Titan International, Inc. (NYSE:TWI - Get Free Report) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 2,470,000 shares, agrowthof112.9% from the June 30th total of 1,160,000 shares. Approximately5.2% of the shares of the company are short sold. Based on an average daily volume of 572,700 shares, the short-interest ratio is currently 4.3 days. Based on an average daily volume of 572,700 shares, the short-interest ratio is currently 4.3 days. Approximately5.2% of the shares of the company are short sold.

Wall Street Analyst Weigh In

TWI has been the topic of several recent research reports. DA Davidson lifted their target price on shares of Titan International from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Noble Financial initiated coverage on shares of Titan International in a research report on Wednesday, June 4th. They set an "outperform" rating and a $11.00 target price on the stock. Finally, Wall Street Zen raised shares of Titan International from a "sell" rating to a "hold" rating in a report on Thursday, May 8th.

Titan International Price Performance

TWI stock traded down $0.18 during trading on Tuesday, hitting $8.44. 96,842 shares of the stock traded hands, compared to its average volume of 685,001. Titan International has a one year low of $5.93 and a one year high of $10.94. The stock has a market cap of $539.00 million, a price-to-earnings ratio of -27.21 and a beta of 2.05. The company has a 50 day simple moving average of $9.19 and a 200 day simple moving average of $8.35. The company has a current ratio of 2.35, a quick ratio of 1.27 and a debt-to-equity ratio of 0.98.

Titan International (NYSE:TWI - Get Free Report) last announced its earnings results on Thursday, July 31st. The industrial products company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). Titan International had a negative return on equity of 1.62% and a negative net margin of 1.24%. The company had revenue of $460.83 million during the quarter, compared to the consensus estimate of $483.84 million. Equities analysts expect that Titan International will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling at Titan International

In other Titan International news, CAO Anthony Eheli sold 25,000 shares of the firm's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $9.24, for a total value of $231,000.00. Following the sale, the chief accounting officer directly owned 45,276 shares in the company, valued at $418,350.24. This trade represents a 35.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard M. Cashin, Jr. sold 212,398 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $10.34, for a total transaction of $2,196,195.32. Following the completion of the sale, the director owned 176,461 shares in the company, valued at $1,824,606.74. This represents a 54.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 301,348 shares of company stock worth $3,086,520 over the last 90 days. Company insiders own 32.50% of the company's stock.

Institutional Investors Weigh In On Titan International

Institutional investors and hedge funds have recently modified their holdings of the business. AlphaQuest LLC bought a new stake in Titan International in the second quarter valued at approximately $43,000. Brooklyn Investment Group increased its stake in Titan International by 1,286.4% in the first quarter. Brooklyn Investment Group now owns 5,934 shares of the industrial products company's stock valued at $50,000 after purchasing an additional 5,506 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Titan International in the fourth quarter valued at approximately $54,000. Nisa Investment Advisors LLC increased its stake in Titan International by 1,669.4% in the second quarter. Nisa Investment Advisors LLC now owns 10,581 shares of the industrial products company's stock valued at $109,000 after purchasing an additional 9,983 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in Titan International in the fourth quarter valued at approximately $74,000. 80.39% of the stock is owned by institutional investors.

About Titan International

Titan International, Inc, together with its subsidiaries, manufactures and sells wheels, tires, and undercarriage systems and components for off-highway vehicles in the United States and internationally. The company operates in Agricultural, Earthmoving/Construction, and Consumer segments. It offers wheels, tires, and undercarriage systems and components for various agricultural equipment, including tractors, combines, skidders, plows, planters, and irrigation equipment.

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