ADDvantage Technologies Group, Inc. (NASDAQ:AEY) Sees Significant Drop in Short Interest

ADDvantage Technologies Group, Inc. (NASDAQ:AEY) saw a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 39,700 shares, a drop of 8.1% from the January 15th total of 43,200 shares. Currently, 0.9% of the shares of the company are short sold. Based on an average daily volume of 50,300 shares, the short-interest ratio is currently 0.8 days.

Separately, ValuEngine downgraded shares of ADDvantage Technologies Group from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st.

An institutional investor recently raised its position in ADDvantage Technologies Group stock. Renaissance Technologies LLC raised its position in ADDvantage Technologies Group, Inc. (NASDAQ:AEY) by 16.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 390,015 shares of the technology company’s stock after acquiring an additional 54,610 shares during the period. Renaissance Technologies LLC owned approximately 3.76% of ADDvantage Technologies Group worth $959,000 at the end of the most recent reporting period. Institutional investors own 10.84% of the company’s stock.

Shares of ADDvantage Technologies Group stock opened at $2.90 on Friday. ADDvantage Technologies Group has a 1 year low of $1.23 and a 1 year high of $3.38. The company has a market capitalization of $30.57 million, a P/E ratio of -5.69 and a beta of 0.47. The company’s fifty day moving average is $2.40 and its two-hundred day moving average is $2.17.

ADDvantage Technologies Group (NASDAQ:AEY) last released its earnings results on Thursday, February 13th. The technology company reported ($0.17) EPS for the quarter. ADDvantage Technologies Group had a negative return on equity of 12.26% and a negative net margin of 8.29%. The firm had revenue of $13.96 million during the quarter.

ADDvantage Technologies Group Company Profile

ADDvantage Technologies Group, Inc, through its subsidiaries, distributes and services electronics and hardware for the cable television and telecommunication industries in the United States, Canada, Central America, Asia, Europe, Mexico, South America, and internationally. The company operates through two segments, Cable Television and Telecommunications.

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