StockNews.com Initiates Coverage on Chicago Rivet & Machine (NYSEAMERICAN:CVR)

Equities researchers at StockNews.com initiated coverage on shares of Chicago Rivet & Machine (NYSEAMERICAN:CVR) in a report released on Monday. The brokerage set a “sell” rating on the stock.

Chicago Rivet & Machine Stock Down 3.4 %

Shares of Chicago Rivet & Machine stock opened at $16.68 on Monday. The firm has a market capitalization of $16.18 million, a PE ratio of -3.66 and a beta of 0.13. Chicago Rivet & Machine has a 12 month low of $14.73 and a 12 month high of $28.00.

Chicago Rivet & Machine (NYSEAMERICAN:CVR) last posted its earnings results on Thursday, March 28th. The company reported ($1.60) earnings per share for the quarter. Chicago Rivet & Machine had a negative net margin of 13.97% and a negative return on equity of 15.66%. The company had revenue of $6.78 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Chicago Rivet & Machine stock. Cannell Capital LLC bought a new position in shares of Chicago Rivet & Machine Co. (NYSEAMERICAN:CVR) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 11,486 shares of the company’s stock, valued at approximately $202,000. Cannell Capital LLC owned approximately 1.18% of Chicago Rivet & Machine at the end of the most recent quarter. Hedge funds and other institutional investors own 19.87% of the company’s stock.

About Chicago Rivet & Machine

Chicago Rivet & Machine Co operates in the fastener industry in North America. It operates in two segments, Fasteners and Assembly Equipment. The Fastener segment manufactures and sells rivets, cold-formed fasteners and parts, and screw machine products. The Assembly Equipment segment engages in the manufacture and sale of automatic rivet setting machines, as well as parts and tools for related machines.