Short Interest in Gibraltar Industries, Inc. (NASDAQ:ROCK) Grows By 23.6%

Gibraltar Industries, Inc. (NASDAQ:ROCK) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 497,300 shares, an increase of 23.6% from the October 15th total of 402,200 shares. Currently, 1.7% of the company’s shares are short sold. Based on an average daily trading volume, of 181,500 shares, the days-to-cover ratio is presently 2.7 days.

Hedge Funds Weigh In On Gibraltar Industries

A number of large investors have recently bought and sold shares of ROCK. Farther Finance Advisors LLC increased its holdings in shares of Gibraltar Industries by 271.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 379 shares of the construction company’s stock worth $27,000 after buying an additional 277 shares during the last quarter. Innealta Capital LLC purchased a new stake in Gibraltar Industries during the second quarter valued at about $39,000. GAMMA Investing LLC increased its stake in Gibraltar Industries by 30.6% during the third quarter. GAMMA Investing LLC now owns 725 shares of the construction company’s stock worth $51,000 after acquiring an additional 170 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Gibraltar Industries in the 2nd quarter worth about $55,000. Finally, Quarry LP raised its holdings in shares of Gibraltar Industries by 428.9% in the 2nd quarter. Quarry LP now owns 989 shares of the construction company’s stock worth $68,000 after purchasing an additional 802 shares during the period. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Gibraltar Industries from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 22nd.

Gibraltar Industries Stock Down 1.9 %

Shares of ROCK stock traded down $1.35 during mid-day trading on Friday, hitting $70.66. 100,015 shares of the company’s stock were exchanged, compared to its average volume of 176,011. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 19.63 and a beta of 1.14. The stock has a 50-day simple moving average of $69.19 and a two-hundred day simple moving average of $70.26. Gibraltar Industries has a fifty-two week low of $61.92 and a fifty-two week high of $87.40.

Gibraltar Industries (NASDAQ:ROCK) last posted its quarterly earnings data on Wednesday, October 30th. The construction company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.01. Gibraltar Industries had a net margin of 8.28% and a return on equity of 13.13%. The company had revenue of $361.20 million during the quarter, compared to the consensus estimate of $360.43 million. During the same quarter in the prior year, the company posted $1.38 EPS. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. As a group, analysts anticipate that Gibraltar Industries will post 4.18 earnings per share for the current fiscal year.

About Gibraltar Industries

Gibraltar Industries, Inc manufactures and provides products and services for the renewable energy, residential, agtech, and infrastructure markets in the United States and internationally. It operates through four segments: Renewables, Residential, Agtech, and Infrastructure. The Renewables segment designs, engineers, manufactures, and installs solar racking and electrical balance of systems for commercial and distributed generation scale solar installations.