Enerpac Tool Group Corp. (NYSE:EPAC) Sees Large Decrease in Short Interest

Enerpac Tool Group Corp. (NYSE:EPAC) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 789,200 shares, a decline of 21.9% from the October 15th total of 1,010,000 shares. Approximately 1.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 318,500 shares, the short-interest ratio is presently 2.5 days.

Enerpac Tool Group Price Performance

Shares of Enerpac Tool Group stock traded down $0.55 during midday trading on Friday, reaching $47.56. The company had a trading volume of 300,159 shares, compared to its average volume of 411,267. The company has a current ratio of 2.88, a quick ratio of 2.31 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $43.85 and a 200 day simple moving average of $40.65. Enerpac Tool Group has a 1-year low of $27.06 and a 1-year high of $51.91. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 30.49 and a beta of 1.14.

Enerpac Tool Group (NYSE:EPAC) last released its earnings results on Tuesday, October 15th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). The firm had revenue of $158.71 million for the quarter, compared to the consensus estimate of $156.70 million. Enerpac Tool Group had a return on equity of 26.70% and a net margin of 14.55%. During the same quarter in the previous year, the firm earned $0.42 EPS. As a group, equities research analysts forecast that Enerpac Tool Group will post 1.81 earnings per share for the current year.

Insider Buying and Selling at Enerpac Tool Group

In other news, Director E James Ferland, Jr. sold 1,938 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $44.17, for a total value of $85,601.46. Following the completion of the sale, the director now directly owns 86,047 shares in the company, valued at approximately $3,800,695.99. This trade represents a 2.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Enerpac Tool Group

Several institutional investors have recently modified their holdings of EPAC. Quarry LP boosted its position in shares of Enerpac Tool Group by 110.7% during the third quarter. Quarry LP now owns 830 shares of the company’s stock worth $35,000 after buying an additional 436 shares during the period. Exchange Traded Concepts LLC bought a new stake in Enerpac Tool Group in the 3rd quarter valued at approximately $40,000. GAMMA Investing LLC boosted its position in Enerpac Tool Group by 31.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,000 shares of the company’s stock worth $42,000 after acquiring an additional 238 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Enerpac Tool Group during the 3rd quarter worth approximately $42,000. Finally, USA Financial Formulas raised its holdings in shares of Enerpac Tool Group by 15.5% in the third quarter. USA Financial Formulas now owns 1,895 shares of the company’s stock valued at $79,000 after purchasing an additional 254 shares during the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Enerpac Tool Group Company Profile

Enerpac Tool Group Corp. manufactures and sells a range of industrial products and solutions in the United States, the United Kingdom, Germany, Australia, Canada, China, Saudi Arabia, Brazil, France, and internationally. It operates through Industrial Tools & Services and Other segments. The Industrial Tools & Services segment designs, manufactures, and distributes branded hydraulic and mechanical tools; and provides services and tool rentals to the infrastructure, industrial maintenance, repair and operations, oil and gas, mining, alternative and renewable energy, civil construction, and other markets.