(SPAR) Shares Trading up at $16.50 Spartan Motors To Build New All-Electric…

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Spartan Motors, Inc. (NASDAQ:SPAR):

Spartan Motors To Build New All-Electric Walk-In Van Fleet For Leading Linen And Uniform Services Company.

The company is up from yesterday’s close of 16.1.

Spartan Motors, Inc., launched on September 18, 1975, is an engineer and manufacturer of specialized motor vehicle chassis and bodies. The Business’s principal chassis markets are emergency response vehicles, motor homes and other specialty vehicles. The Business’s operating activities are conducted through its operating subsidiary, Spartan Motors USA, Inc. (Spartan USA), with locations in Charlotte, Michigan; Brandon, South Dakota; Ephrata, Pennsylvania, and Bristol and Wakarusa, Indiana. The Company operates through three segments: Emergency Response Vehicles, Delivery and Service Vehicles, and Specialty Chassis and Vehicles. The Business’s Charlotte, Michigan location manufactures heavy duty chassis and vehicles, and supplies aftermarket parts and services under the Spartan Chassis and Spartan ERV brand names. Its Brandon, South Dakota and Ephrata, Pennsylvania locations manufacture emergency response vehicles under the Spartan ERV brand name, while its Bristol and Wakarusa, Indiana locations manufacture delivery and service vehicles and supply related aftermarket parts and services under the Utilimaster brand name..

Company shares last traded at $16.50 which is quite a bit higher than $11.90, the stock’s 50 day moving average and which is well above the 200 day moving average of $9.49. The 50 day moving average moved up $4.60 and the 200 day average moved up $7.01.

The company currently has a P/E ratio of 154.21 and the market value is 579.03M. In the last earnings report the EPS was $0.11 and is projected to be $0.50 for the current year with 35,093,000 shares outstanding. Next quarter’s EPS is forecasted at $0.14 with next year’s EPS anticipated to be $0.72.

Investors are feeling more bullish on the company lately if you put credence in the downtick in short interest. The stock had a fall in short interest from September 15, 2017 to September 29, 2017 of -23.73%. Short shares fell from 445,958 to 340,143 over that period. Days to cover decreased from 4.0 to 1.0 and the percentage of shorted shares was 0.01% on September 29.