Short Interest in Titan Machinery Inc. (NASDAQ:TITN) Decreases By 19.6%

Titan Machinery Inc. (NASDAQ:TITN) saw a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 1,110,000 shares, a decline of 19.6% from the February 13th total of 1,380,000 shares. Based on an average daily volume of 268,400 shares, the short-interest ratio is presently 4.1 days. Currently, 5.4% of the shares of the company are sold short.

Analyst Ratings Changes

A number of brokerages recently commented on TITN. Baird R W upgraded shares of Titan Machinery from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 27th. Robert W. Baird upgraded shares of Titan Machinery from a “neutral” rating to an “outperform” rating and upped their price target for the company from $14.00 to $25.00 in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.20.

Titan Machinery Stock Performance

Shares of NASDAQ:TITN opened at $14.33 on Tuesday. The company’s 50 day moving average price is $16.57 and its two-hundred day moving average price is $15.09. Titan Machinery has a 12-month low of $12.30 and a 12-month high of $27.13. The firm has a market cap of $331.40 million, a PE ratio of 10.69 and a beta of 1.28. The company has a quick ratio of 0.15, a current ratio of 1.32 and a debt-to-equity ratio of 0.20.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Squarepoint Ops LLC grew its position in shares of Titan Machinery by 28.9% during the 4th quarter. Squarepoint Ops LLC now owns 38,697 shares of the company’s stock worth $547,000 after purchasing an additional 8,678 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Titan Machinery by 12.4% during the 4th quarter. Millennium Management LLC now owns 38,689 shares of the company’s stock worth $547,000 after acquiring an additional 4,266 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Titan Machinery by 5.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 868,401 shares of the company’s stock worth $12,270,000 after acquiring an additional 48,445 shares during the period. Granahan Investment Management LLC bought a new stake in shares of Titan Machinery during the 4th quarter worth approximately $195,000. Finally, Focus Partners Wealth lifted its holdings in shares of Titan Machinery by 16.7% during the 4th quarter. Focus Partners Wealth now owns 70,000 shares of the company’s stock worth $989,000 after acquiring an additional 10,000 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.

Titan Machinery Company Profile

Titan Machinery Inc owns and operates a network of full service agricultural and construction equipment stores in the United States, Europe, and Australia. It operates through four segments: Agriculture, Construction, Europe, and Australia. The company sells new and used equipment, including agricultural and construction equipment manufactured under the CNH Industrial family of brands, as well as equipment from various other manufacturers.