Rudolph Technologies Inc (NYSE:RTEC) Sees Large Increase in Short Interest

Rudolph Technologies Inc (NYSE:RTEC) was the target of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 1,166,800 shares, an increase of 18.6% from the May 30th total of 983,900 shares. Approximately 3.9% of the company’s stock are sold short. Based on an average daily volume of 216,000 shares, the short-interest ratio is currently 5.4 days.

RTEC traded up $0.22 on Friday, reaching $26.99. The company had a trading volume of 90,234 shares, compared to its average volume of 338,109. Rudolph Technologies has a 1 year low of $18.13 and a 1 year high of $30.65. The company has a market cap of $837.39 million, a PE ratio of 22.49, a PEG ratio of 2.35 and a beta of 1.02. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.06 and a quick ratio of 5.71. The stock’s 50-day simple moving average is $25.24.

Rudolph Technologies (NYSE:RTEC) last announced its quarterly earnings results on Monday, May 6th. The scientific and technical instruments company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. Rudolph Technologies had a net margin of 14.35% and a return on equity of 10.48%. The firm had revenue of $60.89 million during the quarter, compared to analysts’ expectations of $59.53 million. During the same period in the previous year, the company earned $0.51 earnings per share. Rudolph Technologies’s quarterly revenue was down 16.7% compared to the same quarter last year. On average, equities analysts expect that Rudolph Technologies will post 1.15 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quadrant Capital Group LLC lifted its position in Rudolph Technologies by 529.3% in the first quarter. Quadrant Capital Group LLC now owns 1,183 shares of the scientific and technical instruments company’s stock valued at $25,000 after acquiring an additional 995 shares during the last quarter. First Mercantile Trust Co. lifted its position in Rudolph Technologies by 16.5% in the first quarter. First Mercantile Trust Co. now owns 2,820 shares of the scientific and technical instruments company’s stock valued at $64,000 after acquiring an additional 400 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Rudolph Technologies by 2,950.7% in the first quarter. BNP Paribas Arbitrage SA now owns 6,559 shares of the scientific and technical instruments company’s stock valued at $150,000 after acquiring an additional 6,344 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Rudolph Technologies by 359.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,969 shares of the scientific and technical instruments company’s stock valued at $204,000 after purchasing an additional 7,797 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Rudolph Technologies in the first quarter valued at $269,000. 93.26% of the stock is owned by hedge funds and other institutional investors.

RTEC has been the subject of several recent analyst reports. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Zacks Investment Research raised shares of Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Saturday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Rudolph Technologies has a consensus rating of “Buy” and an average price target of $31.50.

About Rudolph Technologies

Rudolph Technologies, Inc designs, develops, manufactures, and supports process control defect inspection and metrology, advanced packaging lithography, and process control software systems used by microelectronic device manufacturers. It offers process and yield management solutions used in bare silicon wafer production and processing facilities, and device packaging and test facilities through standalone systems for macro-defect inspection, packaging lithography, probe card test and analysis, and transparent and opaque thin film measurements.

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