Exfo Inc (NASDAQ:EXFO) Sees Large Decline in Short Interest

Exfo Inc (NASDAQ:EXFO) (TSE:EXF) was the target of a large decrease in short interest in the month of July. As of July 15th, there was short interest totalling 1,800 shares, a decrease of 82.0% from the June 30th total of 10,000 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average trading volume of 39,800 shares, the short-interest ratio is currently 0.0 days.

EXFO has been the topic of several research reports. Zacks Investment Research upgraded shares of Exfo from a “hold” rating to a “strong-buy” rating and set a $4.00 price target on the stock in a report on Monday, July 13th. TheStreet downgraded shares of Exfo from a “c-” rating to a “d” rating in a report on Friday, April 17th. Northland Securities decreased their price objective on shares of Exfo from $5.50 to $4.00 and set an “outperform” rating for the company in a report on Wednesday, April 8th. BMO Capital Markets decreased their price objective on shares of Exfo from $5.00 to $3.50 and set a “market perform” rating for the company in a report on Monday, April 6th. Finally, Canaccord Genuity reissued a “hold” rating and set a $4.00 price target on shares of Exfo in a report on Thursday, July 9th. Seven analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $3.79.

Shares of EXFO opened at $4.14 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.30 and a debt-to-equity ratio of 0.06. Exfo has a 12-month low of $2.00 and a 12-month high of $4.95. The stock’s fifty day simple moving average is $3.27 and its 200-day simple moving average is $3.14.

Exfo (NASDAQ:EXFO) (TSE:EXF) last issued its quarterly earnings results on Wednesday, July 8th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.13. Exfo had a negative return on equity of 0.73% and a negative net margin of 2.31%. The business had revenue of $66.15 million for the quarter, compared to analyst estimates of $55.50 million. As a group, sell-side analysts predict that Exfo will post 0.09 EPS for the current year.

A hedge fund recently raised its stake in Exfo stock. Acadian Asset Management LLC raised its stake in Exfo Inc (NASDAQ:EXFO) (TSE:EXF) by 409.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,200 shares of the communications equipment provider’s stock after buying an additional 9,000 shares during the quarter. Acadian Asset Management LLC’s holdings in Exfo were worth $28,000 as of its most recent filing with the Securities and Exchange Commission. 11.15% of the stock is owned by institutional investors.

About Exfo

EXFO Inc develops, manufactures, and markets smarter network test, monitoring, and analytics solutions for communications service providers, network equipment manufacturers, and Web-scale operators. It offers field network testing products, such as copper/DSL testing, dispersion analysis, fiber inspection, live fiber detection, network protocol testing, optical power and loss testing, ORL tester, optical time domain reflectometry and iOLM, spectral testing, test function virtualization, and test reporting and automation products, as well as modular test platforms.

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