American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) Sees Significant Growth in Short Interest

American Axle & Manufacturing Holdings, Inc. (NYSE:AXL) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 4,030,000 shares, an increase of 9.2% from the August 31st total of 3,690,000 shares. Based on an average trading volume of 1,500,000 shares, the days-to-cover ratio is currently 2.7 days. Approximately 3.6% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AXL. Wolfe Research upgraded shares of American Axle & Manufacturing to a “hold” rating in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $6.00 price objective on shares of American Axle & Manufacturing in a research report on Tuesday, September 10th. Finally, Bank of America increased their price objective on shares of American Axle & Manufacturing from $7.00 to $7.50 and gave the stock an “underperform” rating in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $7.10.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC bought a new position in shares of American Axle & Manufacturing in the second quarter valued at $41,000. Quarry LP lifted its stake in shares of American Axle & Manufacturing by 159.2% in the second quarter. Quarry LP now owns 7,899 shares of the auto parts company’s stock valued at $55,000 after buying an additional 4,851 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of American Axle & Manufacturing in the second quarter valued at $75,000. EntryPoint Capital LLC bought a new position in shares of American Axle & Manufacturing in the first quarter valued at $76,000. Finally, QRG Capital Management Inc. lifted its stake in shares of American Axle & Manufacturing by 13.5% in the second 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 Stock Down 1.6 %

NYSE AXL traded down $0.10 on Tuesday, hitting $6.08. 1,737,740 shares of the company were exchanged, compared to its average volume of 1,576,504. The company has a market cap of $714.72 million, a PE ratio of -86.86 and a beta of 1.95. American Axle & Manufacturing has a 12 month low of $5.43 and a 12 month high of $8.99. The stock has a fifty day moving average of $6.33 and a 200-day moving average of $6.95. The company has a current ratio of 1.68, a quick ratio of 1.30 and a debt-to-equity ratio of 4.42.

American Axle & Manufacturing (NYSE:AXL) last issued its earnings results on Friday, August 9th. The auto parts company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.08. The business had revenue of $1.63 billion for 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 earnings per share. As a group, analysts forecast that American Axle & Manufacturing will post 0.34 earnings per share for the current year.

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.