Short Interest in Smith-Midland Co. (NASDAQ:SMID) Rises By 31.8%

Smith-Midland Co. (NASDAQ:SMID) was the target of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 97,500 shares, a growth of 31.8% from the March 31st total of 74,000 shares. Approximately 2.2% of the company’s shares are short sold. Based on an average daily volume of 26,100 shares, the days-to-cover ratio is currently 3.7 days.

Smith-Midland Trading Down 1.6 %

Shares of SMID stock traded down $0.58 during mid-day trading on Tuesday, hitting $35.72. 16,102 shares of the company’s stock were exchanged, compared to its average volume of 25,678. Smith-Midland has a fifty-two week low of $15.23 and a fifty-two week high of $48.87. The stock has a 50-day simple moving average of $40.42 and a two-hundred day simple moving average of $35.97. The company has a quick ratio of 1.99, a current ratio of 2.31 and a debt-to-equity ratio of 0.16. The stock has a market cap of $187.78 million, a price-to-earnings ratio of 324.73 and a beta of 1.20.

Institutional Investors Weigh In On Smith-Midland

Several hedge funds have recently made changes to their positions in SMID. Victory Capital Management Inc. acquired a new stake in shares of Smith-Midland during the fourth quarter worth $148,000. Buckingham Capital Management Inc. purchased a new position in shares of Smith-Midland in the 4th quarter worth $395,000. Heritage Investors Management Corp raised its position in shares of Smith-Midland by 6.9% in the 3rd quarter. Heritage Investors Management Corp now owns 44,268 shares of the company’s stock worth $839,000 after buying an additional 2,870 shares during the period. Finally, Thompson Davis & CO. Inc. raised its position in shares of Smith-Midland by 10.2% in the 4th quarter. Thompson Davis & CO. Inc. now owns 1,356,453 shares of the company’s stock worth $53,580,000 after buying an additional 125,873 shares during the period. Institutional investors and hedge funds own 49.94% of the company’s stock.

About Smith-Midland

Smith-Midland Corporation, through its subsidiaries, invents, develops, manufactures, markets, leases, licenses, sells, and installs precast concrete products and systems primarily for use in the construction, highway, utilities, and farming industries. It offers SlenderWall, a patented, lightweight, energy efficient concrete and steel exterior wall panel for use in building construction; Sierra Wall that provides sound and sight barrier for use alongside highways around residential, industrial, and commercial properties; J-J Hooks highway safety barriers for use on roadways to separate lanes of traffic in construction work zone or traffic control purposes; and Easi-Set precast building and Easi-Span expandable precast buildings for use in housing communications operations, traffic control systems, and mechanical and electrical stations.