Arrow Electronics, Inc. (NYSE:ARW) Sees Significant Decrease in Short Interest

Arrow Electronics, Inc. (NYSE:ARW) was the recipient of a large drop in short interest in November. As of November 30th, there was short interest totalling 2,350,000 shares, a drop of 6.0% from the November 15th total of 2,500,000 shares. Based on an average trading volume of 397,300 shares, the days-to-cover ratio is currently 5.9 days. Currently, 4.5% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

ARW has been the topic of several recent research reports. Raymond James reduced their price target on shares of Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Truist Financial cut their price objective on Arrow Electronics from $141.00 to $120.00 and set a “hold” rating for the company in a research report on Friday, November 1st.

Arrow Electronics Trading Down 0.7 %

Shares of Arrow Electronics stock traded down $0.80 during mid-day trading on Tuesday, hitting $118.49. 185,913 shares of the stock were exchanged, compared to its average volume of 458,651. The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of 13.31 and a beta of 1.26. Arrow Electronics has a twelve month low of $108.51 and a twelve month high of $137.80. The company has a current ratio of 1.46, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. The company has a 50-day simple moving average of $124.35 and a 200 day simple moving average of $126.30.

Arrow Electronics (NYSE:ARW) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.15. The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.73 billion. Arrow Electronics had a return on equity of 10.71% and a net margin of 1.71%. The business’s revenue was down 14.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.14 earnings per share. Research analysts forecast that Arrow Electronics will post 10.23 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. True Wealth Design LLC acquired a new position in shares of Arrow Electronics during the 3rd quarter valued at about $31,000. Brooklyn Investment Group acquired a new position in shares of Arrow Electronics during the 3rd quarter valued at about $40,000. Capital Performance Advisors LLP acquired a new position in shares of Arrow Electronics during the 3rd quarter valued at about $73,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Arrow Electronics during the 3rd quarter valued at about $78,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Arrow Electronics during the 3rd quarter valued at about $88,000. Institutional investors and hedge funds own 99.34% of the company’s stock.

About Arrow Electronics

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.