Inventure Foods, Inc. (NASDAQ:SNAK) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 1,228,192 shares, a decline of 47.1% from the October 13th total of 2,323,192 shares. Based on an average daily trading volume, of 658,203 shares, the days-to-cover ratio is presently 1.9 days. Approximately 6.5% of the shares of the stock are sold short.
A number of research firms have weighed in on SNAK. William Blair reaffirmed a “market perform” rating on shares of Inventure Foods in a report on Wednesday, November 1st. ValuEngine raised Inventure Foods from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st.
Inventure Foods (NASDAQ:SNAK) opened at $3.99 on Friday. Inventure Foods has a twelve month low of $2.96 and a twelve month high of $10.15.
Inventure Foods (NASDAQ:SNAK) last posted its earnings results on Tuesday, November 7th. The company reported ($0.24) earnings per share for the quarter. The company had revenue of $27.43 million for the quarter, compared to analysts’ expectations of $52.10 million. Inventure Foods had a negative net margin of 34.84% and a negative return on equity of 162.36%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.13) EPS. research analysts forecast that Inventure Foods will post -0.13 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Alyeska Investment Group L.P. grew its holdings in shares of Inventure Foods by 33.0% during the third quarter. Alyeska Investment Group L.P. now owns 1,718,620 shares of the company’s stock worth $8,060,000 after purchasing an additional 426,696 shares in the last quarter. PEAK6 Investments L.P. purchased a new position in shares of Inventure Foods during the third quarter worth about $180,000. 22NW LP purchased a new position in shares of Inventure Foods during the third quarter worth about $314,000. Royce & Associates LP grew its holdings in shares of Inventure Foods by 5.1% during the third quarter. Royce & Associates LP now owns 1,350,020 shares of the company’s stock worth $6,332,000 after purchasing an additional 65,000 shares in the last quarter. Finally, Macquarie Group Ltd. purchased a new position in shares of Inventure Foods during the third quarter worth about $104,000. 69.62% of the stock is owned by institutional investors.
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About Inventure Foods
Inventure Foods, Inc is a marketer and manufacturer of healthy/natural and indulgent specialty snack food brands. The Company operates in the snack products segment. The snack products segment produces potato chips, kettle chips, potato crisps, potato skins, pellet snacks, sheeted dough products and extruded products for sale primarily to snack food distributors and retailers.
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