IEC Electronics Corp (IEC) Short Interest Up 84.7% in September

IEC Electronics Corp (NYSE:IEC) was the recipient of a large increase in short interest in September. As of September 29th, there was short interest totalling 26,108 shares, an increase of 84.7% from the September 15th total of 14,135 shares. Approximately 0.3% of the company’s stock are sold short. Based on an average daily volume of 50,284 shares, the short-interest ratio is currently 0.5 days.

IEC Electronics Corp (IEC) opened at 4.80 on Friday. The stock has a 50 day moving average price of $4.60 and a 200 day moving average price of $4.00. IEC Electronics Corp has a one year low of $3.21 and a one year high of $5.05. The company’s market cap is $49.54 million.

IEC Electronics Corp (NYSE:IEC) last posted its earnings results on Wednesday, August 9th. The technology company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.01 by $0.07. The company had revenue of $26.49 million during the quarter, compared to the consensus estimate of $26.00 million. IEC Electronics Corp had a net margin of 3.04% and a return on equity of 24.24%. On average, equities analysts anticipate that IEC Electronics Corp will post $0.06 EPS for the current fiscal year.

A hedge fund recently raised its stake in IEC Electronics Corp stock. Punch & Associates Investment Management Inc. lifted its holdings in shares of IEC Electronics Corp (NYSE:IEC) by 17.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 321,200 shares of the technology company’s stock after acquiring an additional 48,000 shares during the period. Punch & Associates Investment Management Inc. owned approximately 3.11% of IEC Electronics Corp worth $1,156,000 at the end of the most recent reporting period.

A number of equities analysts have issued reports on IEC shares. Zacks Investment Research upgraded IEC Electronics Corp from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a report on Tuesday, July 18th. ValuEngine upgraded IEC Electronics Corp from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Noble Financial reiterated a “buy” rating on shares of IEC Electronics Corp in a report on Thursday, August 10th. Finally, Maxim Group assumed coverage on IEC Electronics Corp in a report on Thursday, August 17th. They issued a “buy” rating and a $7.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. IEC Electronics Corp currently has a consensus rating of “Hold” and an average price target of $4.82.

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About IEC Electronics Corp

IEC Electronics Corp. provides electronic manufacturing services (EMS) to a range of technology companies that produce life-saving and mission critical products for the medical, industrial, aerospace and defense sectors. The Company specializes in delivering technical solutions for the custom manufacture of full system assemblies by providing on-site analytical testing laboratories, custom design and test engineering services combined with an array of manufacturing services encompassing electronics, interconnect solutions and precision metalworking.

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