GMR Solutions Inc. (NYSE:GMRS) Sees Large Decline in Short Interest

GMR Solutions Inc. (NYSE:GMRS) saw a large drop in short interest during the month of July. As of July 15th, there was short interest totaling 973,506 shares, a drop of 37.6% from the June 30th total of 1,560,500 shares. Based on an average trading volume of 737,481 shares, the days-to-cover ratio is currently 1.3 days. Approximately 1.8% of the shares of the company are short sold.

Wall Street Analyst Weigh In

GMRS has been the topic of several recent research reports. Barclays started coverage on GMR Solutions in a research report on Monday, June 8th. They set an “overweight” rating and a $16.00 target price on the stock. Citigroup started coverage on GMR Solutions in a research note on Sunday, June 7th. They issued a “buy” rating and a $17.00 target price on the stock. UBS Group began coverage on shares of GMR Solutions in a research report on Monday, June 8th. They set a “buy” rating and a $20.00 target price for the company. Evercore upgraded shares of GMR Solutions to a “strong-buy” rating and set a $20.00 target price for the company in a research report on Monday, June 8th. Finally, The Goldman Sachs Group initiated coverage on GMR Solutions in a research report on Monday, June 8th. They set a “buy” rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, GMR Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $19.22.

GMR Solutions Trading Down 3.0%

Shares of GMRS traded down $0.39 during trading hours on Thursday, hitting $12.54. The company had a trading volume of 151,598 shares, compared to its average volume of 860,008. The firm has a market cap of $677.31 million and a price-to-earnings ratio of 44.79. GMR Solutions has a 52-week low of $10.26 and a 52-week high of $15.98. The company’s 50 day moving average is $13.07.

GMR Solutions (NYSE:GMRS) last posted its quarterly earnings results on Monday, June 1st. The company reported $0.28 earnings per share (EPS) for the quarter. The company had revenue of $1.46 billion for the quarter.