Powell Industries, Inc. (NASDAQ:POWL) Sees Large Increase in Short Interest

Powell Industries, Inc. (NASDAQ:POWL) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 1,400,000 shares, a growth of 20.7% from the March 31st total of 1,160,000 shares. Based on an average daily volume of 362,100 shares, the short-interest ratio is currently 3.9 days. Currently, 15.0% of the shares of the company are short sold.

Insider Activity

In other news, major shareholder Thomas W. Powell sold 5,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $174.38, for a total value of $871,900.00. Following the completion of the sale, the insider now directly owns 1,688,628 shares of the company’s stock, valued at approximately $294,462,950.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Powell Industries news, major shareholder Thomas W. Powell sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $151.36, for a total transaction of $908,160.00. Following the completion of the sale, the insider now directly owns 714,643 shares of the company’s stock, valued at approximately $108,168,364.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Thomas W. Powell sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $174.38, for a total value of $871,900.00. Following the sale, the insider now directly owns 1,688,628 shares of the company’s stock, valued at $294,462,950.64. The disclosure for this sale can be found here. In the last three months, insiders sold 30,000 shares of company stock valued at $4,850,830. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Powell Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in POWL. FMR LLC grew its holdings in shares of Powell Industries by 1,377.9% in the 3rd quarter. FMR LLC now owns 138,597 shares of the industrial products company’s stock worth $11,490,000 after acquiring an additional 129,219 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Powell Industries in the 3rd quarter worth approximately $4,928,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Powell Industries by 169.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 73,865 shares of the industrial products company’s stock worth $6,123,000 after acquiring an additional 46,413 shares during the period. American Century Companies Inc. grew its holdings in shares of Powell Industries by 79.8% in the 3rd quarter. American Century Companies Inc. now owns 101,858 shares of the industrial products company’s stock worth $8,444,000 after acquiring an additional 45,209 shares during the period. Finally, Qube Research & Technologies Ltd grew its holdings in shares of Powell Industries by 621.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 47,187 shares of the industrial products company’s stock worth $3,912,000 after acquiring an additional 40,642 shares during the period. Institutional investors and hedge funds own 89.77% of the company’s stock.

Powell Industries Trading Down 4.5 %

NASDAQ POWL opened at $143.00 on Wednesday. The business’s 50 day moving average is $147.95 and its two-hundred day moving average is $111.35. Powell Industries has a 12-month low of $39.65 and a 12-month high of $197.87. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 1.42 and a beta of 0.79.

Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, January 30th. The industrial products company reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.98. Powell Industries had a return on equity of 22.30% and a net margin of 10.10%. The company had revenue of $194.00 million for the quarter, compared to analysts’ expectations of $182.04 million. During the same quarter in the previous year, the firm posted $0.10 EPS. The firm’s quarterly revenue was up 53.0% on a year-over-year basis. Equities analysts forecast that Powell Industries will post 7.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Powell Industries from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st.

About Powell Industries

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company's principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.