Capital Product Partners L.P. (CPLP) Sees Unusually-High Trading Volume
Capital Product Partners L.P. (NASDAQ:CPLP) shares saw unusually-strong trading volume on Monday . Approximately 2,019,142 shares changed hands during trading, an increase of 149% from the previous session’s volume of 812,237 shares.The stock last traded at $3.68 and had previously closed at $3.41.
A number of analysts have recently commented on CPLP shares. Zacks Investment Research upgraded Capital Product Partners L.P. from a “sell” rating to a “hold” rating in a report on Wednesday, June 29th. Evercore ISI downgraded Capital Product Partners L.P. from a “buy” rating to a “hold” rating in a report on Tuesday, April 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $9.42.
The firm’s 50-day moving average price is $3.02 and its 200-day moving average price is $3.27. The stock has a market capitalization of $438.78 million and a P/E ratio of 10.11.
Capital Product Partners L.P. (NASDAQ:CPLP) last issued its quarterly earnings results on Tuesday, April 26th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by $0.02. The firm earned $58 million during the quarter, compared to analysts’ expectations of $60.51 million. Equities analysts predict that Capital Product Partners L.P. will post $0.39 earnings per share for the current year.
Several institutional investors recently modified their holdings of the stock. Penserra Capital Management LLC bought a new position in shares of Capital Product Partners L.P. during the fourth quarter valued at $5,767,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Capital Product Partners L.P. by 508.1% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 205,505 shares of the company’s stock valued at $1,134,000 after buying an additional 171,710 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Capital Product Partners L.P. by 2.3% in the fourth quarter. First Trust Advisors LP now owns 1,586,180 shares of the company’s stock valued at $8,756,000 after buying an additional 35,801 shares during the last quarter.
Capital Product Partners L.P. is an international owner of modern tanker, container and drybulk vessels. The Partnership owns approximately 35 vessels, including twenty modern Medium Range (MR) product tankers, four Suezmax crude oil tankers, 10 post panamax container vessels and one Capesize bulk carrier.