Clearwater Paper Corporation (NYSE:CLW) Sees Significant Decrease in Short Interest

Clearwater Paper Corporation (NYSE:CLW) saw a large decline in short interest in February. As of February 13th, there was short interest totaling 546,309 shares, a decline of 17.9% from the January 29th total of 665,680 shares. Approximately 3.5% of the company’s shares are sold short. Based on an average trading volume of 254,518 shares, the days-to-cover ratio is presently 2.1 days. Based on an average trading volume of 254,518 shares, the days-to-cover ratio is presently 2.1 days. Approximately 3.5% of the company’s shares are sold short.

Clearwater Paper Stock Down 2.6%

Clearwater Paper stock traded down $0.39 during trading on Tuesday, reaching $14.65. The stock had a trading volume of 220,558 shares, compared to its average volume of 285,877. The company has a quick ratio of 1.13, a current ratio of 2.43 and a debt-to-equity ratio of 0.42. Clearwater Paper has a 52-week low of $13.84 and a 52-week high of $30.96. The stock has a market cap of $234.99 million, a PE ratio of -13.08 and a beta of 0.23. The business has a 50 day moving average price of $17.56 and a 200 day moving average price of $18.84.

Clearwater Paper (NYSE:CLW) last announced its quarterly earnings data on Wednesday, February 18th. The basic materials company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.08. The business had revenue of $386.40 million for the quarter, compared to analyst estimates of $379.00 million. Clearwater Paper had a negative net margin of 1.20% and a negative return on equity of 2.11%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CLW. Brandywine Global Investment Management LLC acquired a new position in Clearwater Paper in the second quarter valued at approximately $1,907,000. Assenagon Asset Management S.A. lifted its position in shares of Clearwater Paper by 74.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 84,202 shares of the basic materials company’s stock worth $1,748,000 after buying an additional 36,022 shares during the last quarter. Peapod Lane Capital LLC lifted its position in shares of Clearwater Paper by 177.8% during the 3rd quarter. Peapod Lane Capital LLC now owns 165,388 shares of the basic materials company’s stock worth $3,433,000 after buying an additional 105,850 shares during the last quarter. Federated Hermes Inc. acquired a new position in shares of Clearwater Paper in the 3rd quarter valued at $1,443,000. Finally, Bailard Inc. acquired a new position in shares of Clearwater Paper in the 2nd quarter valued at $251,000. 89.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Clearwater Paper in a research report on Monday, December 29th. Truist Financial cut their target price on shares of Clearwater Paper from $21.00 to $16.00 and set a “hold” rating on the stock in a research note on Thursday, February 19th. Royal Bank Of Canada decreased their price target on shares of Clearwater Paper from $25.00 to $23.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Finally, TD Securities dropped their price target on shares of Clearwater Paper from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Clearwater Paper currently has an average rating of “Hold” and a consensus target price of $22.25.

About Clearwater Paper

Clearwater Paper Corporation is an independent manufacturer of premium tissue and pulp and paperboard products for private-label and commercial customers in North America. The company operates through two core segments: Consumer Products, which produces bathroom tissue, paper towels and other away-from-home tissue products under private-label contracts; and Pulp & Paperboard, which supplies bleached paperboard used in folding cartons, foodservice packaging and specialty paper applications.

The Consumer Products segment services retail grocers, warehouse clubs, online merchants and janitorial distributors, leveraging multiple converting facilities to produce roll and folded tissue items for both household and institutional use.