Shorts Action: Cognex Corporation (NASDAQ:CGNX) Could Burn Your Long Portfolio After More Shorts

November 29, 2016 - By Pete Kolinski   ·   0 Comments

Shorts Action: Cognex Corporation (NASDAQ:CGNX) Could Burn Your Long Portfolio After More Shorts

The stock of Cognex Corporation (NASDAQ:CGNX) registered an increase of 1.27% in short interest. CGNX’s total short interest was 3.73 million shares in November as published by FINRA. Its up 1.27% from 3.68M shares, reported previously. With 446,300 shares average volume, it will take short sellers 8 days to cover their CGNX’s short positions. The short interest to Cognex Corporation’s float is 4.61%. About 60,359 shares traded hands. Cognex Corporation (NASDAQ:CGNX) has risen 59.63% since April 26, 2016 and is uptrending. It has outperformed by 54.37% the S&P500.

Cognex Corporation is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The company has a market cap of $5.11 billion. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process. It has a 40.26 P/E ratio. The Company’s products include vision software, vision systems, vision sensors and ID products.

Insitutional Activity: The institutional sentiment decreased to 1 in 2016 Q2. Its down 0.13, from 1.13 in 2016Q1. The ratio fall, as 21 funds sold all Cognex Corporation shares owned while 81 reduced positions. 32 funds bought stakes while 83 increased positions. They now own 71.25 million shares or 14.59% less from 83.42 million shares in 2016Q1.
Kennedy Capital Management last reported 359,595 shares in the company. The California-based Menta Capital Limited Liability Company has invested 0.05% in Cognex Corporation (NASDAQ:CGNX). Checchi Capital Advisers Limited Company last reported 1,180 shares in the company. Principal Fincl Grp Inc holds 0.02% or 324,621 shares in its portfolio. Vantage Invest Advsrs Ltd Limited Liability Company owns 226 shares or 0% of their US portfolio. The New Jersey-based Fincl Architects has invested 0.01% in Cognex Corporation (NASDAQ:CGNX). Scout Investments has 55,100 shares for 0.07% of their US portfolio. Hancock Holding last reported 19,800 shares in the company. Brown Advisory has invested 0% of its portfolio in Cognex Corporation (NASDAQ:CGNX). Moreover, Fmr Lc has 0% invested in Cognex Corporation (NASDAQ:CGNX) for 156,700 shares. Guggenheim Limited Company reported 124,659 shares or 0.02% of all its holdings. Pinnacle Limited has invested 1.13% of its portfolio in Cognex Corporation (NASDAQ:CGNX). Pacad Invest Ltd holds 0% or 500 shares in its portfolio. Bnp Paribas Arbitrage accumulated 0.01% or 35,995 shares. The Ontario – Canada-based Bancorporation Of Nova Scotia has invested 0% in Cognex Corporation (NASDAQ:CGNX).

Insider Transactions: Since August 3, 2016, the stock had 0 insider purchases, and 12 sales for $20.09 million net activity. Another trade for 45,000 shares valued at $2.25M was sold by MORIN RICHARD. Another trade for 7,500 shares valued at $363,550 was sold by ALIAS PATRICK. Willett Robert also sold $5.57 million worth of Cognex Corporation (NASDAQ:CGNX) on Friday, November 11. KRANTZ THEODOR had sold 20,000 shares worth $1.00 million. miller jeffrey benjamin also sold $990,248 worth of Cognex Corporation (NASDAQ:CGNX) on Friday, August 5. $1.57M worth of Cognex Corporation (NASDAQ:CGNX) was sold by J BRUCE ROBINSON.

Cognex Corporation (NASDAQ:CGNX) Ratings Coverage

Out of 10 analysts covering Cognex Corporation (NASDAQ:CGNX), 4 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 40% are positive. Cognex Corporation has been the topic of 22 analyst reports since August 4, 2015 according to StockzIntelligence Inc. Needham maintained it with “Buy” rating and $61 target price in Tuesday, November 1 report. As per Tuesday, November 3, the company rating was downgraded by CLSA. The rating was downgraded by Credit Agricole to “Outperform” on Tuesday, November 3. The stock of Cognex Corporation (NASDAQ:CGNX) earned “Hold” rating by Canaccord Genuity on Tuesday, August 4. Raymond James downgraded Cognex Corporation (NASDAQ:CGNX) on Friday, March 11 to “Market Perform” rating. The rating was upgraded by Canaccord Genuity to “Buy” on Wednesday, November 18. The firm has “Underperform” rating given on Thursday, March 24 by CSLA. As per Friday, September 18, the company rating was initiated by Nomura. Canaccord Genuity maintained Cognex Corporation (NASDAQ:CGNX) rating on Tuesday, August 2. Canaccord Genuity has “Hold” rating and $49 price target. The stock of Cognex Corporation (NASDAQ:CGNX) earned “Hold” rating by Canaccord Genuity on Tuesday, November 3.

CGNX Company Profile

Cognex Corporation (Cognex), incorporated on January 7, 1981, is a well-known provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process. The Company’s products include vision software, vision systems, vision sensors and ID products. The Company’s products range from vision sensors that are integrated, to personal computer (PC) systems for users. The Company’s products have a range of physical forms, depending upon the user’s need. Cognex sells its products through a direct sales force, as well as through a global network of integration and distribution partners. The Company’s service offerings include maintenance and support, consulting and training services.

More important recent Cognex Corporation (NASDAQ:CGNX) news were published by: Fool.com which released: “Cognex Corporation Does It Again” on August 02, 2016, also Fool.com published article titled: “Cognex Corporation Soars After Strong Earnings”, Fool.com published: “3 Things to Look Out for When Cognex Corp. Reports Earnings” on July 29, 2016. More interesting news about Cognex Corporation (NASDAQ:CGNX) was released by: Fool.com and their article: “3 Things to Look Out for When Cognex Corporation Reports Earnings” with publication date: April 26, 2016.

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By Pete Kolinski


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