Short Interest in Strattec Security Co. (NASDAQ:STRT) Grows By 29.1%

Strattec Security Co. (NASDAQ:STRT - Get Free Report) saw a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 41,300 shares, an increase of 29.1% from the April 30th total of 32,000 shares. Based on an average trading volume of 27,400 shares, the short-interest ratio is currently 1.5 days. Currently, 1.1% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Strattec Security from a "buy" rating to a "strong-buy" rating in a report on Friday, February 7th.

Strattec Security Stock Performance

Shares of STRT stock traded down $0.09 during trading on Friday, reaching $54.34. 42,310 shares of the company's stock were exchanged, compared to its average volume of 23,930. The firm's fifty day moving average price is $41.76 and its 200-day moving average price is $42.22. The stock has a market capitalization of $226.49 million, a PE ratio of 13.59, a PEG ratio of 1.37 and a beta of 1.10. The company has a quick ratio of 1.77, a current ratio of 2.60 and a debt-to-equity ratio of 0.06. Strattec Security has a twelve month low of $21.05 and a twelve month high of $56.70.

Strattec Security (NASDAQ:STRT - Get Free Report) last issued its earnings results on Thursday, May 8th. The auto parts company reported $1.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.55. Strattec Security had a return on equity of 7.76% and a net margin of 2.92%. The firm had revenue of $144.08 million for the quarter, compared to the consensus estimate of $140.84 million. As a group, sell-side analysts anticipate that Strattec Security will post 3.67 EPS for the current year.

Hedge Funds Weigh In On Strattec Security

A number of hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. bought a new stake in shares of Strattec Security in the 3rd quarter valued at $69,000. Empowered Funds LLC bought a new position in shares of Strattec Security during the 4th quarter worth about $687,000. Allspring Global Investments Holdings LLC grew its stake in shares of Strattec Security by 85.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 46,476 shares of the auto parts company's stock valued at $1,915,000 after buying an additional 21,376 shares during the period. Peapod Lane Capital LLC acquired a new stake in shares of Strattec Security in the 4th quarter valued at about $2,934,000. Finally, Truffle Hound Capital LLC bought a new stake in Strattec Security in the 4th quarter valued at about $5,150,000. Institutional investors and hedge funds own 68.91% of the company's stock.

About Strattec Security

Strattec Security Corporation designs, develops, manufactures, and markets automotive access control products under the VAST Automotive Group brand primarily in North America. The company provides mechanical and electronically enhanced locks and keys, passive entry passive start systems, steering column and instrument panel ignition lock housings, latches, power sliding side door systems, power tailgate and lift gate systems, power deck lid systems, door handles, and related products.