Charah Solutions Inc (NYSE:CHRA) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 246,800 shares, a drop of 10.6% from the September 30th total of 276,200 shares. Based on an average trading volume of 34,400 shares, the days-to-cover ratio is presently 7.2 days. Approximately 3.1% of the shares of the company are short sold.
Shares of NYSE:CHRA traded up $0.02 during midday trading on Friday, reaching $2.21. 53,803 shares of the company traded hands, compared to its average volume of 32,988. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.79 and a current ratio of 0.71. Charah Solutions has a 12 month low of $1.76 and a 12 month high of $8.65. The firm’s fifty day moving average price is $2.01 and its two-hundred day moving average price is $4.01.
Charah Solutions (NYSE:CHRA) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.30). Charah Solutions had a negative net margin of 3.24% and a negative return on equity of 10.85%. The company had revenue of $120.94 million for the quarter, compared to the consensus estimate of $152.90 million. Research analysts predict that Charah Solutions will post -0.41 EPS for the current year.
CHRA has been the topic of several research reports. First Analysis lowered their target price on Charah Solutions from $8.00 to $3.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Morgan Stanley lowered their target price on Charah Solutions from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 10th. Zacks Investment Research lowered Charah Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, ValuEngine upgraded Charah Solutions from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $3.81.
In other news, CFO Roger D. Shannon bought 12,000 shares of the stock in a transaction on Thursday, September 5th. The shares were purchased at an average cost of $2.60 per share, for a total transaction of $31,200.00. Also, CEO Scott Andrew Sewell bought 14,000 shares of the stock in a transaction on Thursday, September 12th. The stock was purchased at an average price of $2.62 per share, for a total transaction of $36,680.00. Insiders have purchased 33,500 shares of company stock worth $92,105 over the last quarter. 2.40% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. Northern Trust Corp raised its stake in shares of Charah Solutions by 5.6% during the 2nd quarter. Northern Trust Corp now owns 97,867 shares of the company’s stock valued at $538,000 after purchasing an additional 5,173 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Charah Solutions during the 2nd quarter valued at $69,000. Monarch Partners Asset Management LLC raised its stake in shares of Charah Solutions by 20.8% during the 2nd quarter. Monarch Partners Asset Management LLC now owns 109,541 shares of the company’s stock valued at $602,000 after purchasing an additional 18,880 shares during the period. Vanguard Group Inc. raised its stake in shares of Charah Solutions by 6.2% during the 2nd quarter. Vanguard Group Inc. now owns 410,948 shares of the company’s stock valued at $2,261,000 after purchasing an additional 23,838 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Charah Solutions by 34.1% during the 2nd quarter. BlackRock Inc. now owns 451,176 shares of the company’s stock valued at $2,482,000 after purchasing an additional 114,819 shares during the period. Institutional investors own 23.36% of the company’s stock.
About Charah Solutions
Charah Solutions, Inc provides environmental and maintenance services to the power generation industry in the United States. The company operates through two segments, Environmental Solutions; and Maintenance and Technical Services. The Environmental Solutions segment offers remediation and compliance services, including development, construction, and management of landfills for coal-fired power generation facilities, and new and existing ash ponds; and active pond management services, such as clean closure, cap-in-place, and design and construction of new ponds.
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