Titan International, Inc. (NYSE: TWI) was the target of a sharp decline in short-term interest during the month of December. As of December 15, there was short interest totaling 757,900 shares, a decrease of 34.1% from the total of 1,150,000 shares as of November 30. Based on an average daily trading volume of 316,300 shares, the short-term interest ratio is currently 2.4 days. About 1.3% of the company’s shares are sold short.

NYSE: TWI traded at $ 0.33 midday Friday, reaching $ 11.04. 6,197 shares of the company were traded, for an average volume of 590,348. Titan International has a 12-month low of $ 5.99 and a 12-month high of $ 11.92. The company has a fifty-day moving average of $ 8.45 and a 200-day moving average of $ 8.09. The company has a quick ratio of 0.97, a current ratio of 1.82, and a debt to equity ratio of 2.58. The stock has a market cap of $ 688.68 million, a PE ratio of 142.13 and a beta of 2.62.

Titan International (NYSE: TWI) last released its quarterly earnings data on Wednesday, November 3. The industrials company reported EPS of $ 0.17 for the quarter, hitting analyst consensus estimates of $ 0.17. The company posted revenue of $ 450.38 million for the quarter, compared to analysts’ estimates of $ 415.75 million. Titan International had a net margin of 0.29% and a return on equity of 13.29%. In the same quarter of the previous year, the company achieved EPS ($ 0.10). On average, equity research analysts predict Titan International will post 0.63 EPS for the current fiscal year.

Separately, Zacks Investment Research has downgraded Titan International shares from a “keep” rating to a “buy” rating and set a target price of $ 11.00 for the company in a research report released on Wednesday 29. December.

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Hedge funds have recently changed their positions in the company. Meeder Asset Management Inc. increased its holdings in Titan International by 9,915.8% during the third quarter. Meeder Asset Management Inc. now owns 3,806 shares of the industrial products company valued at $ 26,000 after purchasing an additional 3,768 shares in the last quarter. Royal Bank of Canada increased its position in Titan International by 10,448.5% during the second quarter. Royal Bank of Canada now owns 3,481 shares of the industrial products company valued at $ 29,000 after purchasing an additional 3,448 shares during the period. Koshinski Asset Management Inc. purchased a new position in Titan International during the third quarter valued at $ 33,000. Ameritas Investment Partners Inc. purchased a new position in Titan International during the second quarter valued at $ 34,000. Finally, Squarepoint Ops LLC purchased a new position in Titan International during the third quarter valued at $ 91,000. Hedge funds and other institutional investors hold 73.19% of the company’s shares.

Titan International Company Profile

Titan International, Inc. is a holding company, engaged in the manufacture of industrial wheels, tires and undercarriages. It operates in the following segments: agriculture, earthmoving and construction, and consumer. The agriculture segment manufactures rims, wheels and tires for use in various agricultural and forestry equipment, including tractors, combines, skidders, plows, planters and irrigation equipment.

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