CSI Compressco LP (NASDAQ:CCLP) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 271,500 shares, an increase of 13.6% from the August 30th total of 238,900 shares. Based on an average daily volume of 129,200 shares, the days-to-cover ratio is currently 2.1 days. Currently, 0.9% of the company’s shares are short sold.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall Wace LLP bought a new position in CSI Compressco during the first quarter worth $76,000. Lapides Asset Management LLC boosted its stake in CSI Compressco by 15.7% during the second quarter. Lapides Asset Management LLC now owns 41,900 shares of the oil and gas company’s stock worth $148,000 after acquiring an additional 5,700 shares in the last quarter. Hilltop Holdings Inc. boosted its stake in CSI Compressco by 89.7% during the second quarter. Hilltop Holdings Inc. now owns 208,050 shares of the oil and gas company’s stock worth $736,000 after acquiring an additional 98,350 shares in the last quarter. Wiley BROS. Aintree Capital LLC boosted its stake in CSI Compressco by 15.9% during the second quarter. Wiley BROS. Aintree Capital LLC now owns 337,319 shares of the oil and gas company’s stock worth $1,194,000 after acquiring an additional 46,175 shares in the last quarter. Finally, B. Riley Financial Inc. bought a new position in CSI Compressco during the second quarter worth $1,343,000. 24.95% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently commented on CCLP. ValuEngine raised shares of CSI Compressco from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research lowered shares of CSI Compressco from a “hold” rating to a “sell” rating in a research note on Monday, October 7th.
NASDAQ CCLP traded up $0.01 on Monday, hitting $2.87. 1,035 shares of the company were exchanged, compared to its average volume of 85,530. The company has a market cap of $133.68 million, a PE ratio of -3.35 and a beta of 1.92. CSI Compressco has a 12 month low of $2.10 and a 12 month high of $5.82. The stock has a fifty day moving average of $2.92 and a 200-day moving average of $3.20. The company has a current ratio of 1.22, a quick ratio of 0.67 and a debt-to-equity ratio of 11.76.
CSI Compressco (NASDAQ:CCLP) last issued its earnings results on Wednesday, August 7th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.01. The business had revenue of $135.86 million for the quarter, compared to analyst estimates of $134.36 million. CSI Compressco had a negative net margin of 5.49% and a negative return on equity of 39.24%. On average, analysts expect that CSI Compressco will post -0.34 earnings per share for the current year.
CSI Compressco Company Profile
CSI Compressco LP provides compression services and equipment for natural gas and oil production, gathering, transportation, processing, and storage applications in the United States and internationally. It fabricates and sells standard and custom-designed compressor packages, and compressor package parts and components, as well as provides aftermarket services, such as operations, maintenance, overhaul, and reconfiguration.
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