Short Interest in Generac Holdings Inc. (NYSE:GNRC) Rises By 23.8%

Generac Holdings Inc. (NYSE:GNRC) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 2,970,000 shares, an increase of 23.8% from the October 31st total of 2,400,000 shares. Approximately 5.1% of the company’s stock are sold short. Based on an average daily trading volume, of 846,000 shares, the days-to-cover ratio is currently 3.5 days.

Generac Price Performance

Shares of NYSE GNRC traded down $0.07 during midday trading on Monday, reaching $188.13. 238,474 shares of the company were exchanged, compared to its average volume of 938,394. The stock’s 50-day moving average price is $172.92 and its 200-day moving average price is $155.42. The stock has a market cap of $11.19 billion, a P/E ratio of 39.05, a PEG ratio of 2.31 and a beta of 1.37. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. Generac has a one year low of $108.89 and a one year high of $195.94.

Generac (NYSE:GNRC) last posted its earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, beating the consensus estimate of $1.98 by $0.27. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the company earned $1.64 earnings per share. On average, sell-side analysts anticipate that Generac will post 6.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on GNRC. The Goldman Sachs Group lifted their price target on Generac from $148.00 to $193.00 and gave the stock a “buy” rating in a report on Friday, November 1st. TD Cowen lifted their target price on Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Robert W. Baird decreased their price target on shares of Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Stifel Nicolaus lifted their price objective on shares of Generac from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Piper Sandler increased their target price on shares of Generac from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $174.58.

Insider Buying and Selling

In other news, EVP Rajendra Kumar Kanuru sold 3,187 shares of Generac stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total value of $585,069.46. Following the completion of the transaction, the executive vice president now owns 10,738 shares of the company’s stock, valued at $1,971,282.04. This trade represents a 22.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO York A. Ragen sold 29,081 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total value of $5,372,133.13. Following the transaction, the chief financial officer now directly owns 135,613 shares in the company, valued at approximately $25,051,789.49. This trade represents a 17.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,268 shares of company stock worth $7,584,853. 2.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Generac

Several hedge funds have recently added to or reduced their stakes in the business. William Blair Investment Management LLC acquired a new stake in shares of Generac in the second quarter valued at about $98,282,000. The Manufacturers Life Insurance Company increased its position in Generac by 114.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company’s stock valued at $88,944,000 after purchasing an additional 299,205 shares during the period. Jennison Associates LLC bought a new position in Generac during the 3rd quarter worth approximately $45,722,000. International Assets Investment Management LLC lifted its position in shares of Generac by 25,311.7% in the 3rd quarter. International Assets Investment Management LLC now owns 267,077 shares of the technology company’s stock worth $42,433,000 after purchasing an additional 266,026 shares during the period. Finally, Stephens Investment Management Group LLC lifted its position in shares of Generac by 678.5% in the 3rd quarter. Stephens Investment Management Group LLC now owns 192,349 shares of the technology company’s stock worth $30,560,000 after purchasing an additional 167,641 shares during the period. 84.04% of the stock is currently owned by institutional investors and hedge funds.

About Generac

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.