PetroLogistics Sees Large Decrease in Short Interest (PDH)
PetroLogistics (NYSE:PDH) saw a significant decrease in short interest in May. As of May 15th, there was short interest totalling 510,422 shares, a decrease of 53.7% from the April 30th total of 1,103,180 shares, American Banking & Market News reports. Based on an average daily volume of 240,276 shares, the short-interest ratio is currently 2.1 days. Approximately 1.0% of the shares of the stock are short sold.
A number of analysts have recently weighed in on PDH shares. Analysts at Zacks upgraded shares of PetroLogistics from an “underperform” rating to a “neutral” rating in a research note on Wednesday, May 7th. They now have a $13.60 price target on the stock. Separately, analysts at Cowen and Company raised their price target on shares of PetroLogistics from $15.00 to $17.00 in a research note on Thursday, May 1st. They now have an “outperform” rating on the stock. Finally, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of PetroLogistics in a research note on Friday, April 25th. They now have a $14.00 price target on the stock.
PetroLogistics (NYSE:PDH) opened at 14.37 on Thursday. PetroLogistics has a 1-year low of $10.37 and a 1-year high of $14.45. The stock has a 50-day moving average of $13.52 and a 200-day moving average of $12.41. The company has a market cap of $2.000 billion and a price-to-earnings ratio of 12.16.
PetroLogistics (NYSE:PDH) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. Analysts expect that PetroLogistics will post $1.34 EPS for the current fiscal year.
PetroLogistics LP owns and operates propane dehydrogenation (NYSE:PDH) facility.
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