Short Interest in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Declines By 7.3%

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 3,690,000 shares, a drop of 7.3% from the August 15th total of 3,980,000 shares. Based on an average trading volume of 1,450,000 shares, the days-to-cover ratio is presently 2.5 days. Currently, 3.3% of the company’s stock are short sold.

Analysts Set New Price Targets

Several brokerages recently issued reports on AXL. Bank of America upped their price target on American Axle & Manufacturing from $7.00 to $7.50 and gave the stock an “underperform” rating in a report on Monday, August 12th. Wolfe Research raised shares of American Axle & Manufacturing to a “hold” rating in a research report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $6.00 price objective on shares of American Axle & Manufacturing in a research report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, American Axle & Manufacturing presently has a consensus rating of “Hold” and an average target price of $7.58.

American Axle & Manufacturing Stock Performance

AXL traded up $0.10 during trading hours on Wednesday, hitting $6.23. The stock had a trading volume of 828,876 shares, compared to its average volume of 1,557,428. American Axle & Manufacturing has a 1 year low of $5.43 and a 1 year high of $8.99. The company’s fifty day simple moving average is $6.53 and its 200 day simple moving average is $6.98. The stock has a market cap of $732.36 million, a PE ratio of -87.57 and a beta of 1.95. The company has a quick ratio of 1.30, a current ratio of 1.68 and a debt-to-equity ratio of 4.42.

American Axle & Manufacturing (NYSE:AXL) last released its quarterly earnings data on Friday, August 9th. The auto parts company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.08. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.59 billion. American Axle & Manufacturing had a net margin of 0.04% and a return on equity of 3.47%. American Axle & Manufacturing’s revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.12 EPS. Equities analysts anticipate that American Axle & Manufacturing will post 0.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AXL. nVerses Capital LLC bought a new stake in shares of American Axle & Manufacturing during the 2nd quarter valued at about $41,000. Quarry LP lifted its position in American Axle & Manufacturing by 159.2% during the second quarter. Quarry LP now owns 7,899 shares of the auto parts company’s stock valued at $55,000 after purchasing an additional 4,851 shares during the last quarter. EntryPoint Capital LLC purchased a new position in American Axle & Manufacturing in the 1st quarter worth approximately $76,000. Headlands Technologies LLC bought a new position in shares of American Axle & Manufacturing in the 2nd quarter worth $75,000. Finally, QRG Capital Management Inc. raised its position in shares of American Axle & Manufacturing by 13.5% during the 2nd quarter. QRG Capital Management Inc. now owns 14,037 shares of the auto parts company’s stock valued at $98,000 after buying an additional 1,665 shares in the last quarter. 91.41% of the stock is owned by institutional investors.

American Axle & Manufacturing Company Profile

American Axle & Manufacturing Holdings, Inc, together with its subsidiaries, designs, engineers, and manufactures driveline and metal forming technologies that supports electric, hybrid, and internal combustion vehicles. It operates through two segments, Driveline and Metal Forming segments. The Driveline segment offers front and rear axles, driveshafts, differential assemblies, clutch modules, balance shaft systems, disconnecting driveline technology, and electric and hybrid driveline products and systems for light trucks, sport utility vehicles, crossover vehicles, passenger cars, and commercial vehicles.