Flex Ltd (FLEX) Short Interest Update

Flex Ltd (NASDAQ:FLEX) saw a large decrease in short interest in the month of April. As of April 30th, there was short interest totalling 12,611,575 shares, a decrease of 14.1% from the April 15th total of 14,678,508 shares. Currently, 2.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 5,413,468 shares, the short-interest ratio is presently 2.3 days.

Shares of FLEX stock opened at $9.27 on Friday. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 51.50, a P/E/G ratio of 0.62 and a beta of 1.80. Flex has a 52 week low of $6.74 and a 52 week high of $15.38. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.75 and a current ratio of 1.26.

Flex (NASDAQ:FLEX) last announced its quarterly earnings results on Tuesday, April 30th. The technology company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. The business had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $6.41 billion. Flex had a net margin of 0.36% and a return on equity of 2.99%. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.28 EPS. As a group, equities analysts expect that Flex will post 0.98 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in Flex in the 4th quarter worth $38,403,000. Comerica Bank lifted its stake in Flex by 43.0% in the 4th quarter. Comerica Bank now owns 52,154 shares of the technology company’s stock worth $463,000 after purchasing an additional 15,678 shares in the last quarter. United Services Automobile Association lifted its stake in Flex by 46.7% in the 4th quarter. United Services Automobile Association now owns 2,217,152 shares of the technology company’s stock worth $16,873,000 after purchasing an additional 705,875 shares in the last quarter. Legal & General Group Plc lifted its stake in Flex by 6.8% in the 4th quarter. Legal & General Group Plc now owns 2,711,534 shares of the technology company’s stock worth $20,635,000 after purchasing an additional 173,500 shares in the last quarter. Finally, Brandes Investment Partners LP purchased a new stake in Flex in the 4th quarter worth $28,980,000. Institutional investors and hedge funds own 96.07% of the company’s stock.

FLEX has been the subject of several recent analyst reports. BidaskClub raised shares of Flex from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. ValuEngine raised shares of Flex from a “hold” rating to a “buy” rating in a report on Thursday, January 31st. Finally, Zacks Investment Research raised shares of Flex from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $12.33.

COPYRIGHT VIOLATION WARNING: “Flex Ltd (FLEX) Short Interest Update” was originally reported by Baseball Daily News and is the property of of Baseball Daily News. If you are viewing this report on another domain, it was illegally copied and republished in violation of U.S. & international trademark & copyright law. The legal version of this report can be read at https://www.baseballdailydigest.com/news/2019/05/25/flex-ltd-flex-short-interest-update.html.

About Flex

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. It operates through Communications & Enterprise Compute, Consumer Technologies Group, Industrial and Emerging Industries, and High Reliability Solutions segments.

Further Reading: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

Receive News & Ratings for Flex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flex and related companies with MarketBeat.com's FREE daily email newsletter.