Resideo Technologies Inc (NYSE:REZI) was the target of a large decrease in short interest in June. As of June 30th, there was short interest totalling 3,794,300 shares, a decrease of 14.5% from the May 30th total of 4,439,100 shares. Based on an average daily trading volume, of 953,500 shares, the short-interest ratio is currently 4.0 days. Approximately 3.1% of the company’s shares are sold short.
Several brokerages recently issued reports on REZI. Imperial Capital reiterated an “outperform” rating and issued a $26.00 target price (up from $24.00) on shares of Resideo Technologies in a research note on Friday, May 10th. Zacks Investment Research upgraded shares of General Moly from a “sell” rating to a “hold” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $26.00.
In other news, insider Masi Niccolo De bought 4,837 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was acquired at an average cost of $20.68 per share, for a total transaction of $100,029.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Joseph Douglas Ragan III bought 6,300 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was purchased at an average price of $20.05 per share, with a total value of $126,315.00. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 20,081 shares of company stock valued at $407,126. 0.09% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of REZI. Fort L.P. bought a new position in shares of Resideo Technologies during the fourth quarter worth approximately $27,000. Dubuque Bank & Trust Co. bought a new position in shares of Resideo Technologies during the first quarter worth approximately $28,000. 1832 Asset Management L.P. bought a new position in shares of Resideo Technologies during the fourth quarter worth approximately $29,000. Bronfman E.L. Rothschild L.P. bought a new position in shares of Resideo Technologies during the fourth quarter worth approximately $31,000. Finally, Northern Oak Wealth Management Inc. bought a new position in shares of Resideo Technologies during the fourth quarter worth approximately $31,000. Hedge funds and other institutional investors own 74.65% of the company’s stock.
REZI stock traded up $0.02 during mid-day trading on Friday, hitting $21.50. 862,322 shares of the company were exchanged, compared to its average volume of 965,215. The business has a 50 day simple moving average of $20.85. The company has a quick ratio of 0.74, a current ratio of 1.19 and a debt-to-equity ratio of 0.74. The firm has a market cap of $2.64 billion and a PE ratio of 8.70. Resideo Technologies has a 1-year low of $17.60 and a 1-year high of $28.67.
Resideo Technologies (NYSE:REZI) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.04. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. Sell-side analysts predict that Resideo Technologies will post 1.39 earnings per share for the current year.
Resideo Technologies Company Profile
Resideo Technologies, Inc provides critical comfort, thermal, and security solutions primarily in residential environments in the United States, Europe, and internationally. The company operates in two segments, Products and Solutions, and Global Distribution. It offers home products, services, and technologies, including temperature and humidity control, water, air, remote patient monitoring software, and software solutions; and residential thermal solutions, such as boiler products, storage gas water heating solutions, ducted solutions, and thermal adjacency solutions.
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