Stock is down at $16.00 (SPAR) Spartan Motors Awarded $214 Million…

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Spartan Motors, Inc. (NASDAQ:SPAR):

Spartan Motors Awarded $214 Million Contract From United States Postal Service.

The company is so far trading down by 2.14%% since yesterday’s close of 16.35.

Spartan Motors, Inc., launched on September 18, 1975, is an engineer and manufacturer of specialized motor vehicle chassis and bodies. The Business’s principal chassis markets are emergency response vehicles, motor homes and other specialty vehicles. The Business’s operating activities are conducted through its operating subsidiary, Spartan Motors USA, Inc. (Spartan USA), with locations in Charlotte, Michigan; Brandon, South Dakota; Ephrata, Pennsylvania, and Bristol and Wakarusa, Indiana. The Company operates through three segments: Emergency Response Vehicles, Delivery and Service Vehicles, and Specialty Chassis and Vehicles. The Business’s Charlotte, Michigan location manufactures heavy duty chassis and vehicles, and supplies aftermarket parts and services under the Spartan Chassis and Spartan ERV brand names. Its Brandon, South Dakota and Ephrata, Pennsylvania locations manufacture emergency response vehicles under the Spartan ERV brand name, while its Bristol and Wakarusa, Indiana locations manufacture delivery and service vehicles and supply related aftermarket parts and services under the Utilimaster brand name..

Shares of the company are trading at $16.00 significantly higher than $12.80, the 50 day moving average and which is significantly above the 200 day moving average of $9.81. The 50 day moving average went up $3.20 or +25.00% whereas the 200 day moving average was up $6.19 or +63.14%.

The most current P/E ratio is 149.53 and the market cap of the company is 561.49M. As of the last earnings report the EPS was $0.11 and is expected to be $0.50 for the current year with 35,093,000 shares currently outstanding. Next quarter’s EPS is expected be $0.14 with next year’s EPS projected to be $0.72.

Investors are feeling more bullish of late if you consider the motion in short interest. The stock realized a fall in short interest between September 15, 2017 and September 29, 2017 of -23.73%. Short interest decreased from 445,958 to 340,143 over that period. Days to cover decreased -3.0 to 1.0 and the short interest percentage is 0.01% as of September 29.