Atlas Copco Sees 70% Jump in Short Interest, Analysts React

Short interest in Atlas Copco AB experienced a significant surge in December, increasing by 70.5% from the previous month. As of December 15, 2023, the total number of shares shorted reached 150,816, up from 88,447 on November 30, 2023. Despite this rise, only 0.0% of the company’s shares are currently short sold. Given an average trading volume of 341,203 shares, the days-to-cover ratio stands at 0.4 days, indicating a relatively low level of short selling activity.

Analysts have recently offered varying perspectives on Atlas Copco’s stock. On October 28, 2023, UBS Group downgraded its rating to “sell.” Conversely, BNP Paribas upgraded the stock from “hold” to “outperform” on September 4, 2023. Citigroup reaffirmed a “buy” rating on the same day as UBS’s downgrade, while Deutsche Bank Aktiengesellschaft maintained a “hold” rating on October 27, 2023. Barclays also raised their rating from “hold” to “overweight” on December 3, 2023. In total, three analysts classify the stock as a buy, two as hold, and one as sell, leading to a consensus rating of “hold,” according to data from MarketBeat.

In its most recent earnings report, released on October 23, 2023, Atlas Copco reported earnings per share (EPS) of $0.14, aligning with analysts’ expectations. The company achieved a return on equity of 25.42% and a net margin of 16.08%. Total revenue for the quarter amounted to $4.43 billion, slightly exceeding the consensus estimate of $4.42 billion. Analysts project that Atlas Copco will post an EPS of $0.55 for the current fiscal year.

Founded in Sweden, Atlas Copco develops and manufactures equipment and solutions for a wide array of industries. Its core operations focus on compressed air and gas systems, vacuum solutions, construction and mining equipment, industrial tools, and assembly systems. The company offers a range of products and services, including new equipment sales, aftermarket parts, maintenance, and technical support designed to enhance productivity, energy efficiency, and safety.

Key product categories include stationary and portable air compressors, air treatment and gas generation systems, industrial vacuum pumps, generators, drilling rigs, and rock excavation equipment, as well as electric and pneumatic tools and automated assembly systems for manufacturing processes.

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