EVI Industries, Inc. (NYSEAMERICAN:EVI) Short Interest Down 7.8% in November

EVI Industries, Inc. (NYSEAMERICAN:EVI) was the recipient of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 118,900 shares, a decrease of 7.8% from the November 15th total of 128,900 shares. Currently, 2.1% of the company’s stock are short sold. Based on an average daily volume of 13,600 shares, the short-interest ratio is currently 8.7 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Conestoga Capital Advisors LLC lifted its stake in EVI Industries by 18.3% during the second quarter. Conestoga Capital Advisors LLC now owns 765,651 shares of the industrial products company’s stock worth $14,486,000 after purchasing an additional 118,490 shares during the last quarter. King Luther Capital Management Corp bought a new position in EVI Industries in the third quarter worth about $694,000. Bard Associates Inc. bought a new position in EVI Industries in the third quarter worth about $223,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of EVI Industries during the second quarter valued at approximately $158,000. Finally, Raymond James & Associates raised its position in shares of EVI Industries by 2.7% during the 2nd quarter. Raymond James & Associates now owns 188,083 shares of the industrial products company’s stock worth $3,559,000 after purchasing an additional 4,918 shares during the period. 37.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded EVI Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th.

EVI Industries Price Performance

EVI stock traded down $0.05 during midday trading on Tuesday, hitting $18.00. 1,523 shares of the company’s stock were exchanged, compared to its average volume of 16,131. EVI Industries has a 12-month low of $14.51 and a 12-month high of $25.50. The company has a market capitalization of $256.14 million, a PE ratio of 36.41 and a beta of 0.35. The company has a quick ratio of 0.79, a current ratio of 1.44 and a debt-to-equity ratio of 0.15.

About EVI Industries

EVI Industries, Inc, through its subsidiaries, engages in the distribution, sale, rental, and lease of commercial and industrial laundry and dry-cleaning equipment in the United States, Canada, the Caribbean, and Latin America. The company sells and/or leases commercial laundry equipment specializing in washing, drying, finishing, material handling, water heating, power generation, and water reuse applications.