Envirostar Inc (NYSEAMERICAN:EVI) saw a significant drop in short interest in March. As of March 29th, there was short interest totalling 585,072 shares, a drop of 1.8% from the March 15th total of 595,938 shares. Based on an average daily trading volume, of 16,882 shares, the short-interest ratio is presently 34.7 days. Approximately 16.5% of the shares of the stock are short sold.
Separately, TheStreet upgraded Envirostar from a “c+” rating to a “b” rating in a research report on Monday.
Shares of EVI stock opened at $35.50 on Thursday. Envirostar has a 52-week low of $18.90 and a 52-week high of $43.10.
Envirostar (NYSEAMERICAN:EVI) last released its quarterly earnings results on Wednesday, February 14th. The industrial products company reported $0.13 earnings per share for the quarter. Envirostar had a return on equity of 14.85% and a net margin of 4.18%. The business had revenue of $36.14 million for the quarter.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC raised its position in Envirostar by 87.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,742 shares of the industrial products company’s stock valued at $149,000 after purchasing an additional 1,747 shares in the last quarter. Bank of New York Mellon Corp raised its position in Envirostar by 29.6% during the fourth quarter. Bank of New York Mellon Corp now owns 9,786 shares of the industrial products company’s stock valued at $391,000 after purchasing an additional 2,234 shares in the last quarter. BlackRock Inc. raised its position in Envirostar by 2.3% during the fourth quarter. BlackRock Inc. now owns 159,965 shares of the industrial products company’s stock valued at $6,399,000 after purchasing an additional 3,631 shares in the last quarter. Geode Capital Management LLC raised its position in Envirostar by 24.2% during the fourth quarter. Geode Capital Management LLC now owns 19,262 shares of the industrial products company’s stock valued at $770,000 after purchasing an additional 3,758 shares in the last quarter. Finally, California State Teachers Retirement System purchased a new stake in Envirostar during the second quarter valued at about $168,000.
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EnviroStar, Inc, through its subsidiary, Steiner-Atlantic Corp., distributes commercial and industrial laundry and dry cleaning equipment, and steam and hot water boilers manufactured by others; supplies replacement parts and accessories, and provides maintenance services to its customers, and designs and plans turnkey laundry, dry cleaning and boiler systems for its institutional, retail, industrial and commercial customers.
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