Short Interest in Arrow Electronics, Inc. (NYSE:ARW) Expands By 7.3%

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

Wall Street Analysts Forecast Growth

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

Arrow Electronics Trading Up 1.4 %

Shares of ARW traded up $1.66 on Friday, hitting $116.63. 348,861 shares of the stock traded hands, compared to its average volume of 384,812. The firm has a market capitalization of $6.13 billion, a P/E ratio of 13.02 and a beta of 1.26. The company has a quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.39. Arrow Electronics has a 1 year low of $108.51 and a 1 year high of $137.80. The stock’s 50 day moving average is $116.54 and its two-hundred day moving average is $124.01.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.15. The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.73 billion. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The business’s revenue was down 14.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.14 earnings per share. As a group, sell-side analysts predict that Arrow Electronics will post 10.23 earnings per share for the current year.

Institutional Trading of Arrow Electronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARW. True Wealth Design LLC purchased a new stake in Arrow Electronics during the third quarter worth approximately $31,000. Brooklyn Investment Group acquired a new stake in Arrow Electronics in the third quarter valued at $40,000. Capital Performance Advisors LLP bought a new stake in shares of Arrow Electronics in the 3rd quarter worth about $73,000. DekaBank Deutsche Girozentrale acquired a new position in Arrow Electronics in the third quarter worth about $78,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Arrow Electronics during the third quarter valued at approximately $88,000. Hedge funds and other institutional investors own 99.34% of the company’s stock.

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.