Short Interest in Servotronics, Inc. (NYSEAMERICAN:SVT) Decreases By 56.0%

Servotronics, Inc. (NYSEAMERICAN:SVT) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 2,200 shares, a drop of 56.0% from the September 30th total of 5,000 shares. Based on an average daily trading volume, of 4,200 shares, the short-interest ratio is presently 0.5 days. Approximately 0.3% of the company’s stock are sold short.

Servotronics Price Performance

NYSEAMERICAN:SVT traded down $0.16 during trading on Friday, reaching $11.50. The company’s stock had a trading volume of 1,165 shares, compared to its average volume of 4,027. Servotronics has a 12 month low of $8.80 and a 12 month high of $14.10. The company has a market capitalization of $29.44 million, a PE ratio of 71.88 and a beta of 0.56.

Servotronics (NYSEAMERICAN:SVT) last released its earnings results on Thursday, August 8th. The conglomerate reported $0.22 earnings per share for the quarter. Servotronics had a net margin of 0.93% and a return on equity of 3.13%. The firm had revenue of $12.27 million for the quarter.

Insider Activity

In other news, insider James C. Takacs sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $12.55, for a total transaction of $43,925.00. Following the completion of the sale, the insider now owns 13,113 shares in the company, valued at $164,568.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 33.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Servotronics

An institutional investor recently raised its position in Servotronics stock. Courier Capital LLC increased its position in shares of Servotronics, Inc. (NYSEAMERICAN:SVT) by 83.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,344 shares of the conglomerate’s stock after acquiring an additional 8,344 shares during the period. Courier Capital LLC owned approximately 0.72% of Servotronics worth $207,000 as of its most recent filing with the Securities and Exchange Commission. 24.77% of the stock is owned by hedge funds and other institutional investors.

Servotronics Company Profile

Servotronics, Inc designs, manufactures, and markets servo-control components and other technology products for aerospace, military, and medical applications in the United States and internationally. It offers high-performance servo valves, including torque motor, hydraulic, and pneumatic valves. The company offers its products to products are sold to commercial aerospace, government, medical, and industrial markets.