Short Interest in Exponent, Inc. (NASDAQ:EXPO) Declines By 7.7%

19 Sep 2024, 15:54 by Tristan Rich · The Markets Daily

Exponent, Inc. (NASDAQ:EXPO – Get Free Report) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 1,550,000 shares, a decline of 7.7% from the August 15th total of 1,680,000 shares. Based on an average daily trading volume, of 200,800 shares, the short-interest ratio is presently 7.7 days. Approximately 3.1% of the company’s shares are short sold.

Exponent Stock Performance

Shares of NASDAQ EXPO traded up $2.16 during mid-day trading on Thursday, reaching $110.65. 33,399 shares of the company’s stock were exchanged, compared to its average volume of 252,773. The company’s 50-day moving average is $104.85 and its 200-day moving average is $94.24. Exponent has a 52-week low of $64.61 and a 52-week high of $111.62. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 55.80 and a beta of 0.66.

Exponent (NASDAQ:EXPO – Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.57 EPS for the quarter, beating the consensus estimate of $0.50 by $0.07. Exponent had a net margin of 19.35% and a return on equity of 28.39%. The company had revenue of $132.43 million during the quarter, compared to analysts’ expectations of $130.83 million. During the same quarter last year, the company posted $0.50 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts predict that Exponent will post 2.04 earnings per share for the current fiscal year.

Exponent Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Friday, September 6th. Exponent’s payout ratio is 56.57%.

Analyst Upgrades and Downgrades

Separately, Truist Financial restated a “buy” rating and set a $120.00 price objective (up from $100.00) on shares of Exponent in a research note on Friday, July 26th.

Check Out Our Latest Analysis on EXPO

Insider Buying and Selling at Exponent

In related news, VP John Pye sold 3,956 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $105.00, for a total transaction of $415,380.00. Following the sale, the vice president now owns 28,422 shares of the company’s stock, valued at $2,984,310. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Exponent

Hedge funds have recently modified their holdings of the business. Quarry LP acquired a new position in Exponent in the second quarter valued at $25,000. GAMMA Investing LLC lifted its stake in Exponent by 67.7% during the second quarter. GAMMA Investing LLC now owns 379 shares of the business services provider’s stock worth $36,000 after purchasing an additional 153 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Exponent by 866.0% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 512 shares of the business services provider’s stock valued at $42,000 after buying an additional 459 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Exponent by 166.5% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 517 shares of the business services provider’s stock valued at $49,000 after purchasing an additional 323 shares during the last quarter. Finally, Janiczek Wealth Management LLC grew its stake in Exponent by 293.7% during the 1st quarter. Janiczek Wealth Management LLC now owns 626 shares of the business services provider’s stock worth $52,000 after buying an additional 467 shares during the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.

About Exponent

(Get Free Report)

Exponent, Inc, together with its subsidiaries, operates as a science and engineering consulting company in the United States and internationally. The company operates in two segments, Engineering and Other Scientific, and Environmental and Health. The Engineering and Other Scientific segment provides services in the areas of biomechanics, biomedical engineering and sciences, buildings and structures, civil engineering, construction consulting, data sciences, electrical engineering and computer science, human factors, materials and corrosion engineering, mechanical engineering, polymer science and materials chemistry, thermal sciences, and vehicle engineering.