Short Interest in Heartland Express, Inc. (NASDAQ:HTLD) Declines By 5.7%
Heartland Express, Inc. (NASDAQ:HTLD) witnessed a notable decrease in short interest during October. By the end of the month, short interest amounted to 1,160,000 shares, reflecting a 5.7% decline from the 1,230,000 shares reported on October 15th. With an average trading volume of 310,800 shares, the short-interest ratio currently stands at 3.7 days. Presently, 2.6% of the stock’s shares are short sold.
A number of research analysts have evaluated HTLD. StockNews.com upgraded Heartland Express from a “sell” rating to a “hold” rating in July. Barclays lifted their price target for the shares from $10.00 to $11.00, giving the company an “underweight” rating in November. Meanwhile, UBS Group reduced their target price on Heartland Express from $13.00 to $12.00 and assigned a “neutral” rating in October. Two analysts have rated the stock with a “sell,” and three have assigned a “hold” rating. According to recent data, Heartland Express holds a consensus rating of “Hold” with an average target price of $11.75.
On Monday, NASDAQ:HTLD opened at $12.20. The company’s current market capitalization is approximately $957.70 million. With a P/E ratio of -42.07 and a beta of 0.71, Heartland Express holds a current ratio of 1.17 and a quick ratio of 1.23, alongside a debt-to-equity ratio of 0.24. The firm has experienced fluctuations, with a 12-month low at $9.63 and a high at $14.60. Observing a fifty-day simple moving average of $11.76 and a 200-day simple moving average of $11.89, the company’s stock aligns with broader market movements.
In the latest quarterly earnings report released on October 29th, the transportation company reported an EPS of ($0.12) per share for the quarter, falling short of the consensus estimate of ($0.01) by ($0.11). Heartland Express registered a negative net margin of 2.11% and a negative return on equity of 2.70%. Revenue for the quarter reached $259.86 million, compared to analyst projections of $268.35 million. The company’s revenue dropped by 11.9% compared to the same quarter the previous year. Analysts predict that Heartland Express will post earnings per share of -0.38 for the current year.
In recent developments, CEO Michael J. Gerdin acquired 35,960 shares of the stock in a transaction on November 8th. The shares were bought at an average price of $11.97, amounting to a total transaction of $430,441.20. This acquisition increased their ownership by 2.82%, bringing Gerdin’s total holdings to 1,311,913 shares, valued at $15,703,598.61.
Over the past three months, insiders have purchased a total of 154,244 shares of the company’s stock, valued at $1,764,464. Insiders currently possess 39.60% of the firm’s stock.
Numerous institutional investors have shown interest in HTLD. Nisa Investment Advisors LLC expanded its stake in Heartland Express by 64.6% in the second quarter, now holding 2,565 shares valued at $32,000. CWM LLC boosted its shares by 266.3% in the same period, acquiring 2,729 shares worth $34,000. Additionally, EntryPoint Capital LLC, Intech Investment Management LLC, and Hsbc Holdings PLC have all taken new positions in Heartland Express, indicating fortified institutional interest in the company.
Heartland Express, Inc., along with its subsidiaries, functions as a short-to-medium and long-haul truckload carrier across the U.S. and Canada. The enterprise offers asset-based dry van truckload services for shippers, cross-border freight, and temperature-controlled truckload services, representing a robust transportation portfolio in North America.
