Manitex International, Inc. (NASDAQ:MNTX) Short Interest Up 25.0% in October

Manitex International, Inc. (NASDAQ:MNTX) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 129,000 shares, an increase of 25.0% from the October 15th total of 103,200 shares. Based on an average daily trading volume, of 302,200 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.8% of the shares of the stock are short sold.

Institutional Investors Weigh In On Manitex International

Hedge funds have recently modified their holdings of the company. Marshall Wace LLP acquired a new position in Manitex International in the 2nd quarter worth about $128,000. First Eagle Investment Management LLC boosted its position in Manitex International by 2.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 306,084 shares of the industrial products company’s stock worth $1,356,000 after buying an additional 8,500 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in Manitex International by 20.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 34,620 shares of the industrial products company’s stock worth $237,000 after acquiring an additional 5,853 shares during the last quarter. Russell Investments Group Ltd. increased its position in Manitex International by 2,049.4% in the 1st quarter. Russell Investments Group Ltd. now owns 67,319 shares of the industrial products company’s stock valued at $462,000 after acquiring an additional 64,187 shares during the period. Finally, Pacific Ridge Capital Partners LLC increased its position in Manitex International by 0.3% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 917,475 shares of the industrial products company’s stock valued at $4,064,000 after acquiring an additional 2,871 shares during the period. Institutional investors and hedge funds own 46.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Northland Capmk downgraded shares of Manitex International from a “strong-buy” rating to a “hold” rating in a report on Friday, September 13th. Northland Securities restated a “market perform” rating and set a $5.80 target price (down from $8.00) on shares of Manitex International in a research note on Friday, September 13th. Finally, StockNews.com initiated coverage on Manitex International in a research note on Monday. They issued a “hold” rating on the stock.

Manitex International Trading Down 0.9 %

Shares of Manitex International stock opened at $5.71 on Friday. The firm has a market capitalization of $116.48 million, a PE ratio of 12.41 and a beta of 0.77. The company has a current ratio of 1.64, a quick ratio of 0.66 and a debt-to-equity ratio of 0.75. The firm’s 50 day moving average is $5.48 and its 200 day moving average is $5.17. Manitex International has a 1 year low of $3.07 and a 1 year high of $9.16.

About Manitex International

Manitex International, Inc provides engineered lifting solutions in the United States, Italy, Canada, Chile, France, and internationally. The company designs, manufactures, and distributes products that are used in various industries. It also offers boom trucks, truck cranes, and sign cranes products primarily for use in industrial projects, energy exploration, and infrastructure development comprising roads, bridges, and commercial construction; and truck-mounted aerial platforms.