Alico, Inc. (NASDAQ:ALCO) Sees Large Decline in Short Interest

Alico, Inc. (NASDAQ:ALCO) saw a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 211,100 shares, a decrease of 9.4% from the November 15th total of 233,000 shares. Based on an average daily trading volume, of 31,300 shares, the days-to-cover ratio is currently 6.7 days. Currently, 4.0% of the shares of the company are short sold.

Alico Price Performance

Shares of NASDAQ:ALCO opened at $25.87 on Monday. Alico has a 12 month low of $24.14 and a 12 month high of $31.00. The firm has a market capitalization of $197.47 million, a price-to-earnings ratio of 28.12 and a beta of 0.80. The business’s 50 day simple moving average is $26.07 and its 200-day simple moving average is $26.81. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.81 and a quick ratio of 0.99.

Analysts Set New Price Targets

Separately, StockNews.com raised Alico to a “sell” rating in a report on Thursday, August 29th.

Hedge Funds Weigh In On Alico

Several hedge funds have recently bought and sold shares of ALCO. Barclays PLC raised its stake in Alico by 229.2% in the 3rd quarter. Barclays PLC now owns 9,336 shares of the company’s stock valued at $261,000 after purchasing an additional 6,500 shares during the last quarter. Geode Capital Management LLC raised its holdings in Alico by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 145,535 shares of the company’s stock valued at $4,071,000 after acquiring an additional 9,366 shares during the last quarter. State Street Corp lifted its stake in shares of Alico by 2.1% during the 3rd quarter. State Street Corp now owns 109,974 shares of the company’s stock worth $3,081,000 after purchasing an additional 2,313 shares during the period. Harbor Advisors LLC acquired a new stake in shares of Alico during the third quarter worth $215,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Alico by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 19,185 shares of the company’s stock worth $537,000 after buying an additional 700 shares during the period. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Alico Company Profile

Alico, Inc, together with its subsidiaries, operates as an agribusiness and land management company in the United States. The company operates in two segments, Alico Citrus, and Land Management and Other Operations. The Alico Citrus segment engages in planting, owning, cultivating, and/or managing citrus groves to produce fruit for sale to fresh and processed citrus markets, including activities related to the purchase and resale of fruit and value-added services, which include contracting for the harvesting, marketing, and hauling of citrus.