Short Interest in Sypris Solutions, Inc. (NASDAQ:SYPR) Drops By 68.9%

Sypris Solutions, Inc. (NASDAQ:SYPR) was the recipient of a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 40,273 shares, a drop of 68.9% from the May 31st total of 129,586 shares. Based on an average daily trading volume, of 107,216 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.3% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SYPR shares. Wall Street Zen lowered shares of Sypris Solutions from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sypris Solutions in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Sypris Solutions Price Performance

Shares of SYPR traded up $0.12 during mid-day trading on Friday, reaching $2.39. The company had a trading volume of 38,214 shares, compared to its average volume of 90,369. The company has a market capitalization of $54.99 million, a price-to-earnings ratio of -5.69 and a beta of 0.85. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.39 and a current ratio of 1.20. The company’s 50 day simple moving average is $3.07 and its 200 day simple moving average is $3.03. Sypris Solutions has a 1-year low of $1.79 and a 1-year high of $4.74.

Sypris Solutions (NASDAQ:SYPR) last released its quarterly earnings data on Tuesday, May 19th. The auto parts company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.17). Sypris Solutions had a negative return on equity of 54.45% and a negative net margin of 8.23%.The company had revenue of $25.81 million for the quarter, compared to analyst estimates of $22.70 million.

Hedge Funds Weigh In On Sypris Solutions

Institutional investors and hedge funds have recently bought and sold shares of the company. XTX Topco Ltd bought a new stake in shares of Sypris Solutions during the fourth quarter worth about $25,000. Jane Street Group LLC bought a new position in Sypris Solutions in the 4th quarter valued at approximately $31,000. Dimensional Fund Advisors LP raised its holdings in Sypris Solutions by 33.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 56,293 shares of the auto parts company’s stock valued at $160,000 after buying an additional 13,975 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in Sypris Solutions during the 1st quarter worth approximately $505,000. Institutional investors and hedge funds own 44.66% of the company’s stock.

About Sypris Solutions

Sypris Solutions, Inc (NASDAQ: SYPR) is an engineering and manufacturing company headquartered in Tampa, Florida. The firm operates through two primary business segments—Contract Manufacturing and Power Solutions—delivering precision components, subassemblies, and service solutions to original equipment manufacturers (OEMs) and aftermarket customers. Sypris Solutions caters to a diverse range of end markets, including heavy truck, automotive, defense, and industrial power generation.

Within its Contract Manufacturing segment, Sypris Solutions offers end-to-end capabilities from design and prototyping to toolmaking and final assembly.