IMAX Co. (NYSE:IMAX) Short Interest Update

IMAX Co. (NYSE:IMAX) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 4,850,000 shares, a growth of 12.8% from the September 15th total of 4,300,000 shares. Based on an average daily volume of 737,400 shares, the short-interest ratio is currently 6.6 days. Currently, 11.5% of the shares of the company are short sold.

IMAX Trading Down 0.7 %

IMAX stock traded down $0.14 during midday trading on Thursday, reaching $20.52. The stock had a trading volume of 3,713 shares, compared to its average volume of 770,536. The company has a fifty day moving average price of $20.51 and a two-hundred day moving average price of $18.29. The company has a market capitalization of $1.08 billion, a P/E ratio of 42.58, a PEG ratio of 1.41 and a beta of 1.25. IMAX has a 12 month low of $13.20 and a 12 month high of $22.13.

IMAX (NYSE:IMAX) last posted its earnings results on Thursday, July 25th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.11. The company had revenue of $88.96 million for the quarter, compared to analyst estimates of $74.52 million. IMAX had a net margin of 5.97% and a return on equity of 7.78%. The firm’s revenue was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.17 EPS. On average, equities research analysts predict that IMAX will post 0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. bought a new stake in shares of IMAX in the 4th quarter worth approximately $33,000. Headlands Technologies LLC purchased a new position in shares of IMAX during the 2nd quarter valued at $35,000. nVerses Capital LLC purchased a new stake in IMAX in the 3rd quarter worth about $70,000. Summit Securities Group LLC bought a new stake in IMAX in the 2nd quarter valued at about $80,000. Finally, Laurus Investment Counsel Inc. bought a new stake in IMAX in the 2nd quarter valued at about $150,000. Institutional investors own 93.51% of the company’s stock.

Wall Street Analyst Weigh In

IMAX has been the topic of a number of research analyst reports. Seaport Res Ptn upgraded IMAX to a “strong-buy” rating in a research note on Wednesday, July 24th. B. Riley boosted their price objective on IMAX from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Wedbush lifted their price target on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, September 3rd. Barrington Research reiterated an “outperform” rating and set a $24.00 price objective on shares of IMAX in a research report on Wednesday, September 25th. Finally, Macquarie lifted their target price on IMAX from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $24.11.

IMAX Company Profile

IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates in two segments, Content Solutions and Technology Products and Services. The company offers IMAX DMR, a proprietary technology that digitally remasters films and other content into IMAX formats for distribution to the IMAX network; IMAX Enhanced that provides end-to-end technology across streaming content and entertainment devices at home; and SSIMWAVE, an AI-driven video quality solutions for media and entertainment companies.