Century Aluminum Co (CENX) Sees Large Increase in Short Interest
Century Aluminum Co (NASDAQ:CENX) saw a significant growth in short interest in the month of September. As of September 28th, there was short interest totalling 6,199,717 shares, a growth of 45.3% from the September 14th total of 4,265,748 shares. Approximately 12.6% of the shares of the company are sold short. Based on an average trading volume of 3,276,273 shares, the short-interest ratio is presently 1.9 days.
Several analysts recently commented on CENX shares. Deutsche Bank lowered Century Aluminum from a “buy” rating to a “hold” rating and cut their price objective for the stock from $20.00 to $15.00 in a report on Tuesday, October 2nd. Berenberg Bank started coverage on Century Aluminum in a report on Friday, September 21st. They issued a “sell” rating and a $10.00 price objective for the company. BidaskClub lowered Century Aluminum from a “sell” rating to a “strong sell” rating in a report on Thursday, August 9th. B. Riley started coverage on Century Aluminum in a report on Thursday, June 21st. They issued a “buy” rating and a $27.00 price objective for the company. Finally, Zacks Investment Research raised Century Aluminum from a “sell” rating to a “hold” rating in a report on Wednesday, July 4th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $17.14.
Large investors have recently added to or reduced their stakes in the business. United Services Automobile Association bought a new stake in Century Aluminum during the second quarter valued at about $159,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Century Aluminum in the second quarter valued at about $166,000. Engineers Gate Manager LP purchased a new position in shares of Century Aluminum in the second quarter valued at about $197,000. CIBC World Markets Inc. purchased a new position in shares of Century Aluminum in the first quarter valued at about $200,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Century Aluminum by 497.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,550 shares of the industrial products company’s stock valued at $207,000 after acquiring an additional 10,450 shares in the last quarter. 56.00% of the stock is owned by institutional investors and hedge funds.
Century Aluminum (NASDAQ:CENX) last released its quarterly earnings results on Wednesday, August 1st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.05. Century Aluminum had a return on equity of 8.11% and a net margin of 4.22%. The business had revenue of $470.00 million during the quarter, compared to analyst estimates of $458.03 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. Century Aluminum’s revenue for the quarter was up 20.9% on a year-over-year basis. Equities research analysts predict that Century Aluminum will post 0.91 EPS for the current year.
About Century Aluminum
Century Aluminum Company, together with its subsidiaries, produces standard-grade and value-added primary aluminum in the United States and Iceland. The company was founded in 1995 and is headquartered in Chicago, Illinois.
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