Central Puerto (NYSE:CEPU) Shares Gap Down – Time to Sell?

Central Puerto S.A. Sponsored ADR (NYSE:CEPU)’s share price gapped down before the market opened on Monday. The stock had previously closed at $13.18, but opened at $12.07. Central Puerto shares last traded at $12.1740, with a volume of 15,008 shares.

Wall Street Analysts Forecast Growth

CEPU has been the topic of several research reports. Wall Street Zen downgraded shares of Central Puerto from a “buy” rating to a “hold” rating in a report on Saturday, September 19th. Bank of America decreased their price objective on shares of Central Puerto from $29.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, September 17th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Central Puerto in a report on Wednesday, August 26th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.75.

Central Puerto Trading Down 6.9%

The company has a current ratio of 1.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.22. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 4.09 and a beta of 0.81. The company has a fifty day moving average price of $13.94 and a 200-day moving average price of $14.73.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. SPX Gestao de Recursos Ltda acquired a new stake in shares of Central Puerto during the 1st quarter worth approximately $6,084,000. Absolute Gestao de Investimentos Ltda. purchased a new position in shares of Central Puerto during the 1st quarter valued at approximately $4,814,000. Bank of America Corp DE lifted its stake in shares of Central Puerto by 285.7% in the 1st quarter. Bank of America Corp DE now owns 132,818 shares of the company’s stock valued at $2,235,000 after purchasing an additional 98,380 shares during the period. Walleye Capital LLC acquired a new position in shares of Central Puerto in the 1st quarter valued at $1,349,000. Finally, Banco BTG Pactual S.A. purchased a new stake in Central Puerto during the fourth quarter worth $476,000. 2.97% of the stock is owned by institutional investors and hedge funds.

Central Puerto Company Profile

Central Puerto SA is an Argentina-based electric power generation company whose American depositary shares trade on the New York Stock Exchange under the symbol CEPU. The company develops, owns, and operates power-generation facilities that supply electricity to Argentina’s interconnected power system.

Its generation portfolio includes thermal power plants, which primarily use natural gas and other fuels, as well as hydroelectric and renewable-energy assets. Central Puerto also develops and invests in new generation projects, including wind and solar facilities, to support the diversification of Argentina’s electricity supply.

Central Puerto was established in 1989 during the privatization and restructuring of Argentina’s electricity sector.