Verition Fund Management LLC bought a new position in shares of Hollysys Automation Technologies Ltd (NASDAQ:HOLI) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,781 shares of the industrial products company’s stock, valued at approximately $242,000.
A number of other hedge funds have also bought and sold shares of the business. Cubist Systematic Strategies LLC increased its stake in Hollysys Automation Technologies by 17.9% during the first quarter. Cubist Systematic Strategies LLC now owns 28,627 shares of the industrial products company’s stock worth $708,000 after acquiring an additional 4,351 shares during the last quarter. Guggenheim Capital LLC increased its stake in Hollysys Automation Technologies by 10.6% during the first quarter. Guggenheim Capital LLC now owns 167,561 shares of the industrial products company’s stock worth $4,142,000 after acquiring an additional 16,012 shares during the last quarter. Element Capital Management LLC acquired a new stake in shares of Hollysys Automation Technologies in the first quarter valued at $297,000. Barclays PLC grew its stake in shares of Hollysys Automation Technologies by 49.1% in the first quarter. Barclays PLC now owns 121,528 shares of the industrial products company’s stock valued at $3,004,000 after buying an additional 40,044 shares in the last quarter. Finally, FIL Ltd grew its stake in shares of Hollysys Automation Technologies by 43.3% in the first quarter. FIL Ltd now owns 1,140,366 shares of the industrial products company’s stock valued at $28,190,000 after buying an additional 344,451 shares in the last quarter. 70.29% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on HOLI. BidaskClub cut Hollysys Automation Technologies from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 30th. JPMorgan Chase & Co. raised Hollysys Automation Technologies from a “neutral” rating to an “overweight” rating in a research note on Tuesday, May 15th. Zacks Investment Research raised Hollysys Automation Technologies from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Saturday, June 16th. ValuEngine cut Hollysys Automation Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Citigroup raised Hollysys Automation Technologies from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 15th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $22.33.
Shares of Hollysys Automation Technologies opened at $22.14 on Friday, according to Marketbeat. Hollysys Automation Technologies Ltd has a twelve month low of $15.84 and a twelve month high of $28.35. The company has a quick ratio of 2.79, a current ratio of 2.96 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.34 billion, a PE ratio of 19.09 and a beta of 1.62.
Hollysys Automation Technologies (NASDAQ:HOLI) last issued its quarterly earnings data on Monday, May 14th. The industrial products company reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.08). The firm had revenue of $120.62 million during the quarter, compared to analyst estimates of $119.06 million. Hollysys Automation Technologies had a net margin of 19.02% and a return on equity of 13.10%. The company’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 earnings per share. research analysts anticipate that Hollysys Automation Technologies Ltd will post 1.83 EPS for the current year.
About Hollysys Automation Technologies
Hollysys Automation Technologies Ltd. provides automation and control technologies and products in the People's Republic of China, Southeast Asia, India, and the Middle East. The company offers a suite of industrial automation systems, including third-party hardware-centric products, such as instrumentation and actuators; proprietary software-centric distributed control systems/programmable logic controllers; and valued-added software packages comprising real-time management information system, HolliAS asset management system, operator training system, HolliAS batch application package, HolliAS advanced process control package, and safety instrumentation system, as well as HOLLiAS-NMS DCS, a proprietary nuclear power non-safety automation and control system.
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