CSI Compressco LP (NASDAQ:CCLP) Sees Large Increase in Short Interest

CSI Compressco LP (NASDAQ:CCLP) saw a large growth in short interest in November. As of November 29th, there was short interest totalling 487,700 shares, a growth of 20.4% from the November 14th total of 405,100 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average daily volume of 96,200 shares, the days-to-cover ratio is presently 5.1 days.

Shares of NASDAQ:CCLP traded down $0.02 during trading on Friday, hitting $2.33. 24,663 shares of the stock were exchanged, compared to its average volume of 102,196. CSI Compressco has a 1-year low of $2.10 and a 1-year high of $3.98. The company’s fifty day simple moving average is $2.49 and its 200-day simple moving average is $3.03. The company has a debt-to-equity ratio of 13.02, a current ratio of 1.15 and a quick ratio of 0.67.

CSI Compressco (NASDAQ:CCLP) last announced its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.04). The firm had revenue of $113.75 million for the quarter, compared to analyst estimates of $120.79 million. CSI Compressco had a negative return on equity of 34.88% and a negative net margin of 4.63%. Sell-side analysts predict that CSI Compressco will post -0.31 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.72%. The ex-dividend date was Thursday, October 31st. CSI Compressco’s dividend payout ratio is -4.65%.

A number of hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC acquired a new stake in CSI Compressco in the 3rd quarter valued at $29,000. Marshall Wace LLP acquired a new stake in CSI Compressco in the 1st quarter valued at $76,000. FMR LLC boosted its stake in CSI Compressco by 1.9% in the 1st quarter. FMR LLC now owns 1,744,183 shares of the oil and gas company’s stock valued at $4,953,000 after buying an additional 33,320 shares in the last quarter. WealthTrust Axiom LLC boosted its stake in CSI Compressco by 7.9% in the 2nd quarter. WealthTrust Axiom LLC now owns 473,882 shares of the oil and gas company’s stock valued at $1,677,000 after buying an additional 34,632 shares in the last quarter. Finally, Hilltop Holdings Inc. boosted its stake in CSI Compressco by 89.7% in the second quarter. Hilltop Holdings Inc. now owns 208,050 shares of the oil and gas company’s stock worth $736,000 after purchasing an additional 98,350 shares in the last quarter. 22.90% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research lowered CSI Compressco from a “buy” rating to a “hold” rating in a report on Monday, November 11th.

About CSI Compressco

CSI Compressco LP provides compression services and equipment for natural gas and oil production, gathering, transportation, processing, and storage applications in the United States and internationally. It fabricates and sells standard and custom-designed compressor packages, and compressor package parts and components, as well as provides aftermarket services, such as operations, maintenance, overhaul, and reconfiguration.

See Also: Return on Investment (ROI)

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