Arrow Electronics, Inc. (NYSE:ARW) Sees Large Growth in Short Interest

Arrow Electronics, Inc. (NYSE:ARW) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 2,950,000 shares, a growth of 7.3% from the December 31st total of 2,750,000 shares. Based on an average daily trading volume, of 409,800 shares, the days-to-cover ratio is presently 7.2 days. Currently, 5.7% of the shares of the company are short sold.

Analyst Ratings Changes

ARW has been the subject of several research analyst reports. Raymond James cut their price objective on Arrow Electronics from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Wells Fargo & Company reduced their price target on shares of Arrow Electronics from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Monday, January 13th. Finally, Truist Financial dropped their price objective on shares of Arrow Electronics from $141.00 to $120.00 and set a “hold” rating on the stock in a report on Friday, November 1st.

Arrow Electronics Stock Performance

ARW traded up $0.49 during midday trading on Tuesday, reaching $113.99. The company had a trading volume of 36,419 shares, compared to its average volume of 402,868. The business has a 50-day moving average of $116.74 and a two-hundred day moving average of $123.72. The company has a market cap of $5.99 billion, a P/E ratio of 12.72 and a beta of 1.26. Arrow Electronics has a 1 year low of $108.51 and a 1 year high of $137.80. The company has a quick ratio of 1.09, a current ratio of 1.46 and a debt-to-equity ratio of 0.39.

Hedge Funds Weigh In On Arrow Electronics

Hedge funds have recently modified their holdings of the company. True Wealth Design LLC purchased a new stake in Arrow Electronics in the 3rd quarter worth $31,000. Brooklyn Investment Group bought a new position in shares of Arrow Electronics in the third quarter worth about $40,000. Principal Securities Inc. grew its position in shares of Arrow Electronics by 35.7% during the fourth quarter. Principal Securities Inc. now owns 479 shares of the technology company’s stock worth $54,000 after purchasing an additional 126 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Arrow Electronics during the 3rd quarter valued at approximately $73,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Arrow Electronics in the 3rd quarter worth approximately $78,000. 99.34% of the stock is currently owned by institutional investors.

Arrow Electronics Company Profile

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.