Noteworthy Short Interest Filing: Does Schmitt Industries Incorporated (NASDAQ:SMIT) Have Gas After Even More Sellers Involved?

November 16, 2016 - By Peter Erickson   ·   0 Comments

Noteworthy Short Interest Filing: Does Schmitt Industries Incorporated (NASDAQ:SMIT) Have Gas After Even More Sellers Involved?

The stock of Schmitt Industries Incorporated (NASDAQ:SMIT) registered an increase of 579.41% in short interest. SMIT’s total short interest was 23,100 shares in November as published by FINRA. Its up 579.41% from 3,400 shares, reported previously. With 32,200 shares average volume, it will take short sellers 1 days to cover their SMIT’s short positions. The short interest to Schmitt Industries Incorporated’s float is 1.08%. The stock closed at $1.88 during the last session. It is down 15.70% since April 14, 2016 and is downtrending. It has underperformed by 20.38% the S&P500.

Schmitt Industries, Inc. designs, manufactures and sells test and measurement products for two main business divisions: the Balancer segment and the Measurement segment. The company has a market cap of $6.12 million. The Firm operates through two divisions: the design and assembly of dynamic balancing systems and components for the machine tool industry , and the design and assembly of laser test and measurement systems (Measurement). It currently has negative earnings. For the Balancer segment, it designs, makes and sells computer-controlled vibration detection, balancing and process control systems for the machine tool industry.

Insitutional Activity: The institutional sentiment decreased to 1.33 in Q2 2016. Its down 2.67, from 4 in 2016Q1. The ratio fall, as 1 funds sold all Schmitt Industries, Inc. shares owned while 2 reduced positions. 2 funds bought stakes while 2 increased positions. They now own 803,079 shares or 49.43% less from 1.59 million shares in 2016Q1.
Ladenburg Thalmann Service Inc last reported 0% of its portfolio in the stock. Citadel Advsr Lc has 0% invested in the company for 10,194 shares. Teton Inc, a New York-based fund reported 78,000 shares. Pnc Svcs Group Inc Inc Inc accumulated 66 shares or 0% of the stock. Moreover, Tower Llc (Trc) has 0% invested in Schmitt Industries, Inc. (NASDAQ:SMIT) for 789 shares. Blackrock Fund holds 0% of its portfolio in Schmitt Industries, Inc. (NASDAQ:SMIT) for 374 shares. Renaissance Techs Limited Com holds 0% of its portfolio in Schmitt Industries, Inc. (NASDAQ:SMIT) for 100,300 shares. Rodgers Brothers last reported 432,450 shares in the company. Grt Limited, a Massachusetts-based fund reported 126,835 shares. California Public Employees Retirement Sys, a California-based fund reported 14,606 shares. Dimensional Fund Advisors Ltd Partnership holds 0% of its portfolio in Schmitt Industries, Inc. (NASDAQ:SMIT) for 24,460 shares. Shufro Rose Communications Lc accumulated 15,000 shares or 0% of the stock.

Insider Transactions: Since July 25, 2016, the stock had 1 buy, and 0 selling transactions for $1,900 net activity. Another trade for 1,000 shares valued at $1,900 was made by Davidson Charles on Monday, July 25.

SMIT Company Profile

Schmitt Industries, Inc., incorporated on December 7, 1993, designs, makes and sells test and measurement products for two main business divisions: the Balancer segment and the Measurement segment. The Firm operates through two divisions: the design and assembly of dynamic balancing systems and components for the machine tool industry (Balancer), and the design and assembly of laser test and measurement systems (Measurement). For the Balancer segment, the Company designs, makes and sells computer-controlled vibration detection, balancing and process control systems for the machine tool industry across the world, particularly for grinding machines. Under the Measurement segment, the Company, through its subsidiary, Schmitt Measurement Systems, Inc., designs, makes and sells laser and white light sensors for distance, dimensional and area measurement for a range of commercial applications, laser microroughness measurement products for the semiconductor wafer and hard disk drive industries and for other industrial applications, laser surface analysis and measurement products for a range of scientific applications, and ultrasonic measurement products that measure the fill levels of tanks holding propane, diesel and other tank liquids and transmit that data via satellite to a secure Website for display.

More important recent Schmitt Industries, Inc. (NASDAQ:SMIT) news were published by: Globenewswire.com which released: “Schmitt Industries, Inc. Announces the Listing of a Portion of Real Estate …” on August 03, 2016, also Globenewswire.com published article titled: “Schmitt Industries Announces Management Changes”, Globenewswire.com published: “Schmitt Industries Announces Annual Meeting Date” on July 18, 2016. More interesting news about Schmitt Industries, Inc. (NASDAQ:SMIT) was released by: Reuters.com and their article: “BRIEF-Schmitt Industries reports Q1 loss per share of $0.04” with publication date: March 26, 2013.

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By Peter Erickson


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