Varex Imaging Co. (NASDAQ:VREX) Sees Significant Growth in Short Interest

Varex Imaging Co. (NASDAQ:VREX) was the target of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 1,660,000 shares, a growth of 23.0% from the November 15th total of 1,350,000 shares. Based on an average daily trading volume, of 760,000 shares, the short-interest ratio is presently 2.2 days.

Varex Imaging Stock Performance

NASDAQ VREX opened at $15.44 on Monday. The company has a current ratio of 3.32, a quick ratio of 1.97 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $14.07 and its two-hundred day moving average is $13.57. The stock has a market capitalization of $634.58 million, a price-to-earnings ratio of -13.20 and a beta of 0.60. Varex Imaging has a 12-month low of $10.19 and a 12-month high of $21.50.

Hedge Funds Weigh In On Varex Imaging

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Innealta Capital LLC acquired a new position in Varex Imaging during the second quarter worth about $26,000. Canada Pension Plan Investment Board acquired a new stake in shares of Varex Imaging in the 2nd quarter worth approximately $38,000. Quest Partners LLC purchased a new position in Varex Imaging in the 3rd quarter valued at approximately $41,000. CWM LLC raised its holdings in Varex Imaging by 2,384.2% during the third quarter. CWM LLC now owns 9,589 shares of the company’s stock worth $114,000 after purchasing an additional 9,203 shares during the last quarter. Finally, Inspire Advisors LLC raised its holdings in Varex Imaging by 29.8% during the third quarter. Inspire Advisors LLC now owns 14,149 shares of the company’s stock worth $169,000 after purchasing an additional 3,245 shares during the last quarter.

Analyst Ratings Changes

A number of analysts have weighed in on VREX shares. B. Riley began coverage on Varex Imaging in a research report on Friday, August 23rd. They set a “buy” rating and a $21.00 price objective for the company. StockNews.com raised Varex Imaging from a “hold” rating to a “buy” rating in a report on Wednesday, November 27th.

Varex Imaging Company Profile

Varex Imaging Corporation designs, manufactures, and sells X-ray imaging components. The company operates through two segments, Medical and Industrial. The Medical segment designs, manufactures, sells, and services X-ray imaging components, comprising X-ray tubes, digital detectors and accessories, ionization chambers, high voltage connectors, image-processing software and workstations, 3D reconstruction software, computer-aided diagnostic software, collimators, automatic exposure control devices, generators, and heat exchangers.