Manitex International Inc (NASDAQ:MNTX) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totalling 287,000 shares, an increase of 13.3% from the July 31st total of 253,400 shares. Approximately 2.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 88,800 shares, the short-interest ratio is presently 3.2 days.

A number of brokerages have recently issued reports on MNTX. ValuEngine upgraded shares of Manitex International from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Zacks Investment Research upgraded shares of Manitex International from a “hold” rating to a “strong-buy” rating and set a $8.25 target price on the stock in a research report on Thursday, May 16th. Finally, Dougherty & Co reiterated a “buy” rating on shares of Manitex International in a research report on Wednesday, August 28th.

Shares of MNTX stock traded down $0.04 during trading hours on Friday, reaching $5.95. 1,731 shares of the company were exchanged, compared to its average volume of 42,748. Manitex International has a fifty-two week low of $4.80 and a fifty-two week high of $11.76. The stock’s fifty day moving average is $5.85 and its two-hundred day moving average is $6.66. The company has a market cap of $115.38 million, a price-to-earnings ratio of 18.00, a P/E/G ratio of 1.83 and a beta of 1.59. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.83 and a quick ratio of 0.90.

Manitex International (NASDAQ:MNTX) last announced its earnings results on Thursday, August 8th. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.06. The company had revenue of $60.97 million for the quarter. Manitex International had a negative net margin of 2.74% and a positive return on equity of 6.11%. On average, research analysts anticipate that Manitex International will post 0.32 earnings per share for the current year.

In other news, CEO Steve Filipov purchased 5,000 shares of Manitex International stock in a transaction on Thursday, September 5th. The shares were purchased at an average cost of $5.76 per share, for a total transaction of $28,800.00. Following the completion of the transaction, the chief executive officer now directly owns 55,000 shares in the company, valued at $316,800. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.07% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kennedy Capital Management Inc. increased its stake in Manitex International by 2.5% in the first quarter. Kennedy Capital Management Inc. now owns 436,294 shares of the industrial products company’s stock valued at $3,338,000 after purchasing an additional 10,744 shares in the last quarter. Pacific Ridge Capital Partners LLC increased its stake in Manitex International by 20.0% in the first quarter. Pacific Ridge Capital Partners LLC now owns 726,532 shares of the industrial products company’s stock valued at $5,558,000 after purchasing an additional 121,293 shares in the last quarter. WealthTrust Axiom LLC increased its stake in Manitex International by 3.3% in the second quarter. WealthTrust Axiom LLC now owns 910,992 shares of the industrial products company’s stock valued at $5,566,000 after purchasing an additional 29,046 shares in the last quarter. Shufro Rose & Co. LLC increased its stake in Manitex International by 13.5% in the second quarter. Shufro Rose & Co. LLC now owns 352,483 shares of the industrial products company’s stock valued at $2,154,000 after purchasing an additional 42,001 shares in the last quarter. Finally, Royce & Associates LP bought a new stake in Manitex International in the first quarter valued at approximately $527,000. 51.78% of the stock is owned by institutional investors and hedge funds.

About Manitex International

Manitex International, Inc provides engineered lifting solutions worldwide. The company designs, manufactures, and distributes products that are used in various industries. It also offers boom trucks and crane products primarily for use in industrial projects, energy exploration, and infrastructure development comprising roads, bridges, and commercial construction.

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