Cactus, Inc. (NYSE:WHD) was the recipient of a significant decline in short interest in April. As of April 15th, there was short interest totalling 976,800 shares, a decline of 25.4% from the March 31st total of 1,310,000 shares. Based on an average trading volume of 507,100 shares, the days-to-cover ratio is currently 1.9 days.

Several equities analysts have issued reports on the company. Piper Sandler reiterated a “neutral” rating and issued a $32.00 target price on shares of Cactus in a research note on Monday, March 15th. Morgan Stanley upgraded Cactus from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $33.00 to $40.00 in a research note on Wednesday, March 31st. Bank of America upgraded Cactus from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 6th. Barclays upgraded Cactus from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $33.00 to $37.00 in a research note on Monday. Finally, Wolfe Research lowered Cactus from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 11th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Cactus has a consensus rating of “Buy” and a consensus price target of $29.00.

In related news, Director Gary L. Rosenthal sold 10,000 shares of Cactus stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $33.01, for a total value of $330,100.00. Following the completion of the sale, the director now directly owns 36,772 shares in the company, valued at $1,213,843.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Cadent Energy Partners Ii Lp sold 4,111,250 shares of Cactus stock in a transaction dated Friday, March 12th. The shares were sold at an average price of $30.55, for a total value of $125,598,687.50. Following the completion of the sale, the insider now owns 4,236,216 shares of the company’s stock, valued at $129,416,398.80. The disclosure for this sale can be found here. Insiders sold 7,616,399 shares of company stock valued at $232,705,589 over the last 90 days. 24.28% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC acquired a new stake in shares of Cactus during the fourth quarter worth about $60,000. Nisa Investment Advisors LLC lifted its holdings in Cactus by 47.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,100 shares of the company’s stock valued at $81,000 after acquiring an additional 1,000 shares during the period. Meeder Asset Management Inc. acquired a new position in Cactus in the first quarter valued at approximately $132,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Cactus by 27.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,580 shares of the company’s stock valued at $198,000 after acquiring an additional 1,621 shares during the period. Finally, Smith Asset Management Group LP acquired a new position in Cactus in the fourth quarter valued at approximately $215,000. 62.66% of the stock is owned by hedge funds and other institutional investors.

Shares of Cactus stock traded up $0.68 on Tuesday, reaching $32.01. 569,756 shares of the stock were exchanged, compared to its average volume of 466,826. The company has a quick ratio of 5.55, a current ratio of 7.09 and a debt-to-equity ratio of 0.01. Cactus has a twelve month low of $14.70 and a twelve month high of $39.07. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 24.69 and a beta of 2.35. The business has a 50 day moving average price of $30.20 and a two-hundred day moving average price of $27.36.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, February 24th. The company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.01. Cactus had a return on equity of 14.25% and a net margin of 11.96%. The firm had revenue of $68.09 million during the quarter, compared to the consensus estimate of $68.88 million. Research analysts forecast that Cactus will post 0.5 EPS for the current year.

About Cactus

Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment in the United States. The company's principal products include Cactus SafeDrill wellhead systems, Cactus SafeLink monobore, SafeClamp, and SafeInject systems, as well as frac stacks, zipper manifolds, and production trees.

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