Fri Sep 20 07:16:48 UTC 2024: ## Short Interest in America’s Car-Mart Declines, Stock Trading Below Average
**Rogers, AR, September 20, 2024** – America’s Car-Mart, Inc. (NASDAQ:CRMT) experienced a notable decrease in short interest during August, according to data released by MarketBeat News. The total number of shares shorted fell by 6.5% to 809,700 shares by August 31st, from 866,200 shares on August 15th. This suggests a potential increase in investor confidence in the company.
Despite the decrease in short interest, the days-to-cover ratio remains at 9.3 days, indicating a significant level of short selling activity. Approximately 14.2% of the company’s shares are currently short sold.
On Friday, CRMT shares opened at $43.12, trading below both its 52-week low of $40.60 and its 52-week high of $93.63. The stock’s market cap sits at $275.62 million.
The company’s recent financial performance has been a cause for concern. In its latest quarterly earnings report released on September 4th, America’s Car-Mart missed analysts’ expectations, reporting a loss of $0.15 per share against an anticipated $0.66. Revenue for the quarter came in at $347.76 million, slightly exceeding the projected $338.78 million.
The company also faced a 5.2% year-over-year decline in revenue and reported a negative net margin of 2.66% and a negative return on equity of 7.75%.
Despite the recent underperformance, analysts remain cautiously optimistic about the company’s future. BTIG Research initiated coverage on America’s Car-Mart with a “neutral” rating on June 7th, while StockNews.com upgraded the stock from “sell” to “hold” on August 23rd.
Overall, America’s Car-Mart currently holds an average rating of “Hold” and a consensus target price of $66.00 according to MarketBeat.com. The company’s future success will depend on its ability to turn around its recent financial performance and regain investor confidence.
First Piper 