Corinthian Colleges Sees Significant Growth in Short Interest (COCO)
Corinthian Colleges (NASDAQ:COCO) saw a significant growth in short interest in May. As of May 15th, there was short interest totalling 27,305,265 shares, a growth of 6.4% from the April 30th total of 25,666,384 shares, AmericanBankingNews.com reports. Currently, 34.3% of the company’s stock are sold short. Based on an average daily trading volume, of 2,085,949 shares, the short-interest ratio is presently 13.1 days.
COCO has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Corinthian Colleges from an “outperform” rating to a “neutral” rating in a research note on Wednesday, May 7th. They now have a $1.10 price target on the stock. Separately, analysts at Deutsche Bank cut their price target on shares of Corinthian Colleges from $1.00 to $0.75 in a research note on Wednesday, May 7th. They now have a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $1.46.
Shares of Corinthian Colleges (NASDAQ:COCO) opened at 0.837 on Monday. Corinthian Colleges has a one year low of $0.82 and a one year high of $2.88. The stock’s 50-day moving average is $1.08 and its 200-day moving average is $1.46. The company’s market cap is $73.4 million.
Corinthian Colleges (NASDAQ:COCO) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.03 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.05 by $0.02. The company had revenue of $349.80 million for the quarter, compared to the consensus estimate of $355.13 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. The company’s quarterly revenue was down 11.6% on a year-over-year basis. On average, analysts predict that Corinthian Colleges will post $0.09 earnings per share for the current fiscal year.
Corinthian Colleges, Inc is a post-secondary education company in the United States and Canada. As of June 30, 2013, the Company had a student enrollment of 81,284 and operated 97 schools in 25 states, and 14 schools in the province of Ontario, Canada.
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