Capital Product Partners (NASDAQ:CPLP) Raised to Buy at StockNews.com

Capital Product Partners (NASDAQ:CPLPGet Rating) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

Other equities analysts have also issued reports about the stock. TheStreet upgraded shares of Capital Product Partners from a “c+” rating to a “b-” rating in a research report on Thursday, November 10th. B. Riley reiterated a “buy” rating on shares of Capital Product Partners in a research report on Wednesday, November 9th.

Capital Product Partners Stock Performance

NASDAQ:CPLP traded up $0.08 during midday trading on Thursday, reaching $14.78. The stock had a trading volume of 18,491 shares, compared to its average volume of 73,045. The firm has a fifty day simple moving average of $14.52 and a two-hundred day simple moving average of $14.86. Capital Product Partners has a 12-month low of $12.80 and a 12-month high of $19.65. The company has a quick ratio of 1.31, a current ratio of 1.35 and a debt-to-equity ratio of 1.81. The stock has a market cap of $291.76 million, a P/E ratio of 2.06 and a beta of 0.92.

Institutional Investors Weigh In On Capital Product Partners

Several institutional investors have recently made changes to their positions in CPLP. UBS Group AG boosted its position in shares of Capital Product Partners by 19.0% during the 3rd quarter. UBS Group AG now owns 10,795 shares of the shipping company’s stock worth $144,000 after purchasing an additional 1,724 shares in the last quarter. Clear Harbor Asset Management LLC acquired a new position in shares of Capital Product Partners during the 2nd quarter worth $212,000. Creative Planning raised its stake in shares of Capital Product Partners by 23.0% during the 2nd quarter. Creative Planning now owns 21,420 shares of the shipping company’s stock worth $325,000 after buying an additional 4,000 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Capital Product Partners by 4.9% during the 1st quarter. Royal Bank of Canada now owns 18,477 shares of the shipping company’s stock worth $337,000 after buying an additional 859 shares during the last quarter. Finally, State Street Corp acquired a new position in shares of Capital Product Partners during the 3rd quarter worth $857,000. 39.44% of the stock is currently owned by hedge funds and other institutional investors.

Capital Product Partners Company Profile

(Get Rating)

Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. Its vessels transport a range of cargoes, including liquefied natural gas, containerized goods, and dry bulk cargo under short-term voyage charters, and medium to long-term time charters. As of April 27, 2022, the company owned 21 vessels, including 11 Neo-Panamax container vessels, three Panamax container vessels, one cape-size bulk carrier, and six LNG carriers.

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