The Shyft Group Inc. [SHYF] Investment Appeal on the Rise


The Shyft Group Inc.’s recently made public that its Director DINKINS MICHAEL acquired Company’s shares for reported $49266.0 on Aug 03. In the deal valued at $15.64 per share,3,150 shares were bought. As a result of this transaction, DINKINS MICHAEL now holds 16,549 shares worth roughly $ 0.27 million.

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Then, PIZZUTO TERRI bought 3,496 shares, generating $50,028 in total proceeds. Upon buying the shares at $14.31, the Director now owns 17,100 shares.

Before that, Sharman James A. bought 7,610 shares. The Shyft Group Inc. shares valued at $110,345 were divested by the Director at a price of $14.50 per share. As a result of the transaction, Sharman James A. now holds 126,916 shares, worth roughly $2.07 million.

DA Davidson downgraded its The Shyft Group Inc. [SHYF] rating to a Neutral from a a Buy in a research note published on Friday, July 28, 2023; the price target was decreased to $16 from $32. PT values the company’s stock at a premium of -2.0 to its Friday closing price.

Price Performance Review of SHYF

On Friday, The Shyft Group Inc. [NASDAQ:SHYF] saw its stock jump 4.08% to $16.32. On the same session, the stock had its day’s lowest price of $15.82, but rose to a high of $16.49. Over the last five days, the stock has gained 6.53%. The Shyft Group Inc. shares have fallen nearly -34.35% since the year began. Nevertheless, the stocks have fallen -31.86% over the past one year. While a 52-week high of $34.10 was reached on 02/02/23, a 52-week low of $12.91 was recorded on 07/27/23. SMA at 50 days reached $18.04, while 200 days put it at $23.74. A total of 0.28 million shares were traded, compared to the trading of 0.3 million shares in the previous session.

Levels Of Support And Resistance For SHYF Stock

The 24-hour chart illustrates a support level at 15.93, which if violated will result in even more drops to 15.54. On the upside, there is a resistance level at 16.60. A further resistance level may holdings at 16.88. The Relative Strength Index (RSI) on the 14-day chart is 50.12, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.53, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 7.87%. Stochastics %K at 85.90% indicates the stock is a selling.

How much short interest is there in The Shyft Group Inc.?

A steep rise in short interest was recorded in The Shyft Group Inc. stocks on Aug 14, 2023, dropping by 100000.0 shares to a total of 1.08 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 1.18 million shares. There was a decline of -9.26%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.19% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.7.

The Shyft Group Inc. [SHYF] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 2,170,160 shares, or roughly 6.21% of the outstanding SHYF shares. In other words, the investor’s shares have risen by 88,710 from its previous 13-F filing of 2081450.0. Additionally, AllianceBernstein LP increased 4.02% of its stake after which the total value it holdings stand at $26,874,187, while The Vanguard Group, Inc. reduced -0.08% of its stake to hold $23.36 million in the firm. Over the last quarter, T. Rowe Price Investment Manageme purchased 587,773 shares of The Shyft Group Inc., while GW&K Investment Management LLC bought -14,942 shares. At present, Dimensional Fund Advisors LP is holding 1,239,660 shares valued at $17.89 million. Janus Henderson Investors US LLC owned 1,204,848 shares of the company at the time of its most recent 13F filing, worth $17.39 million.

According to FactSet, The Shyft Group Inc.’s share price will average $18.80 in the next year, based on opinions of analysts polled by the firm. This is up nearly 14.8 percent from its previous closing price of $15.68. Analysts expect The Shyft Group Inc. stock to reach the higher price of $26.00, while the lowest price estimate is $16.00. However, 5 analysts have rated SHYF stock as an Overweight in their predictions for 2023.


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