Short Interest in Taylor Devices, Inc. (NASDAQ:TAYD) Grows By 149.5%

Taylor Devices, Inc. (NASDAQ:TAYD) was the recipient of a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 122,000 shares, an increase of 149.5% from the June 30th total of 48,900 shares. Approximately 4.0% of the company’s shares are short sold. Based on an average trading volume of 29,000 shares, the days-to-cover ratio is currently 4.2 days.

Taylor Devices Trading Up 7.8 %

Shares of TAYD opened at $49.11 on Friday. The stock has a market cap of $172.87 million, a P/E ratio of 19.72 and a beta of 1.03. Taylor Devices has a 1 year low of $18.06 and a 1 year high of $61.69. The stock’s 50-day moving average price is $46.34 and its two-hundred day moving average price is $43.27.

Hedge Funds Weigh In On Taylor Devices

Several institutional investors and hedge funds have recently made changes to their positions in the company. LSV Asset Management bought a new stake in shares of Taylor Devices in the first quarter worth about $119,000. Janney Montgomery Scott LLC grew its stake in shares of Taylor Devices by 0.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 135,222 shares of the industrial products company’s stock worth $2,992,000 after acquiring an additional 500 shares in the last quarter. Johnson Bixby & Associates LLC bought a new stake in Taylor Devices during the 1st quarter worth about $373,000. Bank of New York Mellon Corp acquired a new stake in Taylor Devices in the second quarter valued at $286,000. Finally, Vanguard Group Inc. grew its holdings in Taylor Devices by 6.7% during the first quarter. Vanguard Group Inc. now owns 56,441 shares of the industrial products company’s stock worth $2,809,000 after purchasing an additional 3,561 shares during the period. Institutional investors and hedge funds own 17.62% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Taylor Devices from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 17th.

About Taylor Devices

Taylor Devices, Inc engages in design, development, manufacture, and marketing of shock absorption, rate control, and energy storage devices for use in machinery, equipment, and structures in the United States, Asia, and internationally. Its products include seismic dampers that are designed to mitigate the effects of earthquakes on structures; Fluidicshoks, which are compact shock absorbers primarily used in defense, aerospace, and commercial industries; and crane and industrial buffers, which are larger versions of the Fluidicshoks for industrial application on cranes and crane trolleys, truck docks, ladle and ingot cars, ore trolleys, and train car stops.