Hollysys Automation Technologies Ltd (NASDAQ:HOLI) Sees Significant Drop in Short Interest

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Hollysys Automation Technologies Ltd (NASDAQ:HOLI) was the target of a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 191,900 shares, a drop of 35.7% from the May 30th total of 298,600 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average trading volume of 340,300 shares, the days-to-cover ratio is currently 0.6 days.

A number of analysts have commented on the company. JPMorgan Chase & Co. upgraded DISCO CORP/ADR from an “underweight” rating to a “neutral” rating in a research report on Wednesday, April 17th. Zacks Investment Research downgraded shares of CGI from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. BidaskClub downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, ValuEngine upgraded shares of William Lyon Homes from a “strong sell” rating to a “sell” rating in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $23.50.

Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in Hollysys Automation Technologies by 10.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,551,873 shares of the industrial products company’s stock worth $27,173,000 after purchasing an additional 147,089 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in Hollysys Automation Technologies by 7.8% in the 4th quarter. Impax Asset Management Group plc now owns 2,550,712 shares of the industrial products company’s stock valued at $44,663,000 after purchasing an additional 184,472 shares in the last quarter. Citigroup Inc. lifted its holdings in Hollysys Automation Technologies by 2,542.0% in the 4th quarter. Citigroup Inc. now owns 113,528 shares of the industrial products company’s stock valued at $1,988,000 after purchasing an additional 109,231 shares in the last quarter. Norges Bank acquired a new stake in shares of Hollysys Automation Technologies in the 4th quarter worth $16,753,000. Finally, Todd Asset Management LLC increased its position in shares of Hollysys Automation Technologies by 3.0% during the 1st quarter. Todd Asset Management LLC now owns 593,248 shares of the industrial products company’s stock worth $12,422,000 after purchasing an additional 17,541 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

HOLI traded up $0.30 during trading on Friday, hitting $18.50. 3,961 shares of the stock were exchanged, compared to its average volume of 182,707. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 10.39 and a beta of 1.39. Hollysys Automation Technologies has a 1-year low of $16.00 and a 1-year high of $24.10. The company’s fifty day simple moving average is $18.52.

Hollysys Automation Technologies (NASDAQ:HOLI) last issued its earnings results on Monday, May 13th. The industrial products company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.07. Hollysys Automation Technologies had a return on equity of 14.59% and a net margin of 22.78%. The business had revenue of $125.20 million during the quarter, compared to analysts’ expectations of $142.40 million. During the same quarter last year, the firm posted $0.36 earnings per share. Hollysys Automation Technologies’s revenue was up 3.8% compared to the same quarter last year. As a group, research analysts forecast that Hollysys Automation Technologies will post 2.08 earnings per share for the current fiscal year.

Hollysys Automation Technologies Company Profile

Hollysys Automation Technologies Ltd. provides automation and control technologies and products in the People's Republic of China, Southeast Asia, India, and the Middle East. The company offers a suite of industrial automation systems, including third-party hardware-centric products, such as instrumentation and actuators; proprietary software-centric distributed control systems/programmable logic controllers; and valued-added software packages comprising real-time management information system, HolliAS asset management system, operator training system, HolliAS batch application package, HolliAS advanced process control package, and safety instrumentation system, as well as HOLLiAS-NMS DCS, a proprietary nuclear power non-safety automation and control system.

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