Barnes Group Inc. (NYSE:B) Short Interest Update

Barnes Group Inc. (NYSE:B) was the recipient of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 790,000 shares, an increase of 7.4% from the November 30th total of 735,500 shares. Based on an average daily trading volume, of 800,100 shares, the short-interest ratio is presently 1.0 days. Currently, 1.6% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in B. GAMMA Investing LLC boosted its holdings in shares of Barnes Group by 17.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,630 shares of the industrial products company’s stock worth $66,000 after buying an additional 238 shares during the period. SG Americas Securities LLC acquired a new stake in Barnes Group during the third quarter worth approximately $178,000. Centiva Capital LP bought a new stake in shares of Barnes Group during the third quarter worth approximately $212,000. Captrust Financial Advisors acquired a new position in shares of Barnes Group in the third quarter valued at approximately $224,000. Finally, Needham Investment Management LLC acquired a new position in shares of Barnes Group in the third quarter valued at approximately $242,000. 90.82% of the stock is currently owned by institutional investors.

Barnes Group Stock Performance

NYSE B opened at $47.26 on Thursday. The firm has a market capitalization of $2.41 billion, a P/E ratio of -61.38 and a beta of 1.34. The company has a current ratio of 2.28, a quick ratio of 1.35 and a debt-to-equity ratio of 0.87. The firm’s fifty day moving average price is $46.92 and its two-hundred day moving average price is $42.78. Barnes Group has a 1 year low of $29.67 and a 1 year high of $47.40.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Truist Financial upped their price objective on shares of Barnes Group from $38.00 to $47.50 and gave the company a “hold” rating in a research report on Tuesday, October 8th. StockNews.com initiated coverage on shares of Barnes Group in a research report on Saturday, December 28th. They set a “sell” rating for the company. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $47.50 price objective (down from $52.00) on shares of Barnes Group in a research report on Monday, October 7th.

Barnes Group Company Profile

Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. The company operates through two segments: Industrial and Aerospace. The Industrial segment offers precision components, products, and systems used by various customers in end-markets, such as mobility, industrial equipment, automation, personal care, packaging, electronics, and medical devices.