GMR Solutions Inc. (NYSE:GMRS) Stock Short Interest Jumps 60.9%

GMR Solutions Inc. (NYSE:GMRS) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 4,068,015 shares, an increase of 60.9% from the September 15th total of 2,528,187 shares. Based on an average daily trading volume, of 1,520,425 shares, the days-to-cover ratio is currently 2.7 days. Approximately 7.5% of the shares of the company are short sold.

GMR Solutions Stock Performance

Shares of GMRS traded down $0.34 during trading hours on Friday, hitting $10.05. 533,426 shares of the stock were exchanged, compared to its average volume of 1,226,762. The stock has a 50-day moving average price of $12.03. GMR Solutions has a 12-month low of $8.99 and a 12-month high of $15.98. The company has a debt-to-equity ratio of 5.50, a quick ratio of 2.01 and a current ratio of 2.01. The firm has a market capitalization of $542.90 million and a P/E ratio of -6.44.

GMR Solutions (NYSE:GMRS) last announced its earnings results on Wednesday, August 12th. The company reported ($1.84) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($2.22). The business had revenue of $1.49 billion for the quarter. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, research analysts expect that GMR Solutions will post 1.68 earnings per share for the current year.

Insider Activity at GMR Solutions

In related news, CFO Brian Scott Tierney sold 265,794 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $12.20, for a total transaction of $3,242,686.80. Following the completion of the transaction, the chief financial officer directly owned 554,955 shares in the company, valued at $6,770,451. The trade was a 32.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Nicola Loporcaro sold 1,457,102 shares of the stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $12.20, for a total transaction of $17,776,644.40. Following the sale, the chief executive officer directly owned 2,855,580 shares in the company, valued at approximately $34,838,076. The trade was a 33.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 2,353,423 shares of company stock worth $28,711,761 in the last ninety days.

Institutional Trading of GMR Solutions

Several large investors have recently bought and sold shares of GMRS. Citadel Advisors LLC purchased a new position in GMR Solutions in the 2nd quarter worth approximately $49,284,000. Alyeska Investment Group L.P. acquired a new position in shares of GMR Solutions during the 2nd quarter worth approximately $36,817,000. Readystate Asset Management LP acquired a new position in shares of GMR Solutions during the 2nd quarter worth approximately $12,936,000. Steamboat Capital Partners LLC purchased a new stake in shares of GMR Solutions in the second quarter valued at approximately $9,184,000. Finally, HBK Investments L P purchased a new stake in shares of GMR Solutions in the second quarter valued at approximately $3,092,000.

Analyst Upgrades and Downgrades

Several analysts have commented on GMRS shares. Weiss Ratings started coverage on GMR Solutions in a report on Friday, August 14th. They issued a “sell (d)” rating on the stock. The Goldman Sachs Group set a $30.00 target price on GMR Solutions in a research note on Tuesday, August 18th. Finally, JPMorgan Chase & Co. upped their target price on GMR Solutions from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.78.

GMR Solutions Company Profile

GMR Solutions Inc is a provider of emergency medical services delivering EMS and other essential out-of-hospital care in rural and urban communities. GMR Solutions Inc is based in Lewisville, Texas.