Capital Product Partners L.P. (NASDAQ:CPLP) was the recipient of a large drop in short interest in the month of September. As of September 28th, there was short interest totalling 660,626 shares, a drop of 25.9% from the September 14th total of 891,901 shares. Approximately 0.7% of the shares of the stock are short sold. Based on an average daily volume of 529,012 shares, the short-interest ratio is presently 1.2 days.
CPLP has been the subject of several analyst reports. BidaskClub raised shares of Capital Product Partners from a “strong sell” rating to a “sell” rating in a report on Thursday, June 28th. ValuEngine downgraded shares of Capital Product Partners from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Zacks Investment Research downgraded shares of Capital Product Partners from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Finally, Janney Montgomery Scott downgraded shares of Capital Product Partners from a “buy” rating to a “neutral” rating and cut their price target for the company from $4.50 to $3.50 in a report on Wednesday, August 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $4.25.
Shares of NASDAQ:CPLP opened at $2.76 on Monday. The company has a quick ratio of 0.38, a current ratio of 0.46 and a debt-to-equity ratio of 0.46. Capital Product Partners has a one year low of $2.69 and a one year high of $3.60. The firm has a market capitalization of $360.52 million, a price-to-earnings ratio of 11.04 and a beta of 1.24.
Capital Product Partners (NASDAQ:CPLP) last announced its quarterly earnings results on Friday, July 27th. The shipping company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.03). Capital Product Partners had a net margin of 8.86% and a return on equity of 2.90%. The firm had revenue of $65.54 million during the quarter, compared to the consensus estimate of $59.82 million. On average, equities analysts expect that Capital Product Partners will post 0.13 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in the business. UBS Group AG boosted its holdings in Capital Product Partners by 2.6% in the 1st quarter. UBS Group AG now owns 727,571 shares of the shipping company’s stock valued at $2,270,000 after purchasing an additional 18,712 shares during the period. Eagle Boston Investment Management Inc. lifted its holdings in shares of Capital Product Partners by 7.8% during the 2nd quarter. Eagle Boston Investment Management Inc. now owns 549,425 shares of the shipping company’s stock worth $1,681,000 after acquiring an additional 39,980 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in shares of Capital Product Partners by 5.5% during the 1st quarter. Guggenheim Capital LLC now owns 797,122 shares of the shipping company’s stock worth $2,487,000 after acquiring an additional 41,420 shares during the last quarter. Captrust Financial Advisors bought a new stake in shares of Capital Product Partners during the 2nd quarter worth $174,000. Finally, GSA Capital Partners LLP lifted its holdings in shares of Capital Product Partners by 42.0% during the 2nd quarter. GSA Capital Partners LLP now owns 251,899 shares of the shipping company’s stock worth $771,000 after acquiring an additional 74,540 shares during the last quarter. 17.90% of the stock is owned by hedge funds and other institutional investors.
Capital Product Partners Company Profile
Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. It transports a range of cargoes, including crude oil; refined oil products, such as gasoline, diesel, fuel oil and jet fuel; edible oils; chemicals, such as ethanol; and dry cargo and containerized goods under short-term voyage charters, and medium to long-term time and bareboat charters.
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