Arrow Electronics, Inc. (NYSE:ARW) Sees Large Growth in Short Interest

Arrow Electronics, Inc. (NYSE:ARW) was the target of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 2,950,000 shares, an increase of 7.3% from the December 31st total of 2,750,000 shares. Based on an average daily volume of 409,800 shares, the days-to-cover ratio is currently 7.2 days. Currently, 5.7% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ARW shares. Truist Financial cut their target price on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research report on Friday, November 1st. Raymond James lowered their price objective on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Wells Fargo & Company reduced their target price on shares of Arrow Electronics from $105.00 to $100.00 and set an “underweight” rating on the stock in a report on Monday, January 13th.

Institutional Investors Weigh In On Arrow Electronics

Several institutional investors have recently added to or reduced their stakes in ARW. True Wealth Design LLC bought a new position in shares of Arrow Electronics during the third quarter valued at about $31,000. Brooklyn Investment Group purchased a new stake in Arrow Electronics in the 3rd quarter worth approximately $40,000. Principal Securities Inc. grew its position in shares of Arrow Electronics by 35.7% in the 4th quarter. Principal Securities Inc. now owns 479 shares of the technology company’s stock worth $54,000 after buying an additional 126 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Arrow Electronics during the third quarter valued at approximately $73,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Arrow Electronics during the third quarter valued at approximately $78,000. Hedge funds and other institutional investors own 99.34% of the company’s stock.

Arrow Electronics Trading Up 0.4 %

ARW stock traded up $0.49 during midday trading on Tuesday, hitting $113.99. The company had a trading volume of 36,419 shares, compared to its average volume of 402,868. The company has a current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. Arrow Electronics has a 52 week low of $108.51 and a 52 week high of $137.80. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 12.72 and a beta of 1.26. The stock’s 50 day moving average price is $116.74 and its 200 day moving average price is $123.72.

About Arrow Electronics

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.