Envirostar Inc (EVI) Short Interest Down 17.2% in December

Envirostar Inc (NYSEAMERICAN:EVI) was the recipient of a large decline in short interest during the month of December. As of December 29th, there was short interest totalling 635,579 shares, a decline of 17.2% from the December 15th total of 767,168 shares. Based on an average trading volume of 94,812 shares, the days-to-cover ratio is presently 6.7 days. Currently, 19.8% of the company’s stock are sold short.

Envirostar (NYSEAMERICAN EVI) opened at $38.50 on Thursday. The firm has a market cap of $403.06, a PE ratio of 132.76 and a beta of 1.15. Envirostar has a fifty-two week low of $14.05 and a fifty-two week high of $43.10.

Envirostar (NYSEAMERICAN:EVI) last issued its quarterly earnings results on Tuesday, November 14th. The industrial products company reported $0.05 earnings per share for the quarter. The company had revenue of $26.27 million for the quarter. Envirostar had a net margin of 2.14% and a return on equity of 6.91%.

The business also recently declared a special dividend, which was paid on Tuesday, January 9th. Investors of record on Tuesday, December 26th were issued a $0.12 dividend. This is an increase from Envirostar’s previous special dividend of $0.10. The ex-dividend date was Friday, December 22nd.

Several large investors have recently modified their holdings of the stock. Arbor Wealth Management LLC boosted its holdings in shares of Envirostar by 122.5% in the 3rd quarter. Arbor Wealth Management LLC now owns 19,452 shares of the industrial products company’s stock worth $507,000 after buying an additional 10,711 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Envirostar by 4,504.6% in the 3rd quarter. Wells Fargo & Company MN now owns 27,858 shares of the industrial products company’s stock worth $771,000 after buying an additional 27,253 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Envirostar in the 3rd quarter worth about $208,000. CI Global Investments Inc. purchased a new position in shares of Envirostar in the 3rd quarter worth about $2,765,000. Finally, California State Teachers Retirement System purchased a new position in shares of Envirostar in the 2nd quarter worth about $168,000.

A number of equities analysts have issued reports on the stock. TheStreet raised shares of Envirostar from a “c+” rating to a “b” rating in a report on Thursday, December 21st. BidaskClub raised shares of Envirostar from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th.

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About Envirostar

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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