It is currently trading at $5.80 which is just over $5.46, the 50 day moving average and well above the 200 day moving average of $4.76. The 50 day moving average was up $0.34 whereas the 200 day moving average was up $1.04 or +21.76%. Trading volume for Virco Manufacturing Corporation was 21K in the last trading session. Shares saw a steep increase in trading volume of 162.01% over the normal average daily volume.
Investors are more bullish on the company if you evaluate the downtick in short interest. The stock realized a fall in short interest from August 15, 2017 to August 31, 2017 of -21.98%. Short interest decreased 2,995 over that period. With short interest at 10,631 and short average daily volume at 6,954, the short-interest ratio is 2.0 and the percentage of shorted shares was 0.00% on August 31.
These firms have modified their investment in VIRC. As of the end of the quarter Blackrock Inc. had disposed of 74,223 shares trimming its holdings by 97.1%. The value of the total investment in Virco Manufacturing Corporation went from $302,000 to $12,000 decreasing 96.0% quarter over quarter. Wedbush Securities Inc downsized its position by shedding 4,674 shares a decrease of 0.3% as of 06/30/2017. Wedbush Securities Inc claims 1,720,619 shares with a value of $9,205,000. The total value of its holdings increased 35.1%.
D.A. Davidson & CO. augmented its holdings by buying 83,250 shares an increase of 50.9% from 03/31/2017 to 06/30/2017. D.A. Davidson & CO. currently owns 246,723 shares worth $1,319,000. The value of the position overall is up by 104.5%. As of quarter end Renaissance Technologies LLC had sold a total of 14,867 shares trimming its position 6.9%. The value of the company’s investment in Virco Manufacturing Corporation increased from $852,000 to $1,074,000 a change of 26.1% quarter to quarter.
The P/E ratio is currently 3.76 and market capitalization is 88.04M. As of the last earnings report the EPS was $1.54 and is estimated to be $0.44 for the current year with 15,179,000 shares outstanding. Analysts expect next quarter’s EPS will be $-0.06 and the next full year EPS is projected to be $0.53.
Virco Mfg. Corporation (Virco), launched on April 23, 1984, is involved in the designing, producing and distributing of furniture for a range family of customers. The Company is a manufacturer and supplier of moveable educational furniture and equipment for the preschool through 12th grade market in the United States. The Company manufactures an assortment of products, including mobile tables, mobile storage equipment, desks, computer furniture, chairs, activity tables, folding chairs and folding tables. The Business’s primary furniture lines are constructed of tubular metal legs and frames, combined with wood and plastic tops, plastic seats and backs, upholstered seats and backs, and upholstered rigid polyethylene and polypropylene shells. Virco also has flat metal forming capabilities to enable the production of desks, returns, bookcases, filing cabinets, mobile pedestals and related items..