SunCoke Energy Inc. (SXC) Short Interest Up 76.0% in September
SunCoke Energy Inc. (NYSE:SXC) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 1,481,872 shares, a growth of 76.0% from the September 15th total of 841,932 shares. Based on an average daily trading volume, of 727,442 shares, the days-to-cover ratio is presently 2.0 days. Currently, 2.3% of the company’s stock are short sold.
Separately, Zacks Investment Research lowered SunCoke Energy from a “buy” rating to a “hold” rating in a report on Tuesday, August 2nd.
In other SunCoke Energy news, major shareholder Mangrove Partners Fund (Cayman bought 215,517 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were purchased at an average price of $7.20 per share, with a total value of $1,551,722.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.27% of the stock is owned by corporate insiders.
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A number of large investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in SunCoke Energy during the first quarter valued at about $103,000. Public Employees Retirement System of Ohio increased its stake in SunCoke Energy by 23.5% in the second quarter. Public Employees Retirement System of Ohio now owns 17,992 shares of the company’s stock valued at $105,000 after buying an additional 3,427 shares during the period. Martingale Asset Management L P purchased a new stake in SunCoke Energy during the second quarter valued at about $114,000. BNP Paribas Arbitrage SA increased its stake in SunCoke Energy by 110.7% in the second quarter. BNP Paribas Arbitrage SA now owns 19,770 shares of the company’s stock valued at $115,000 after buying an additional 10,386 shares during the period. Finally, Eqis Capital Management Inc. increased its stake in SunCoke Energy by 1.5% in the third quarter. Eqis Capital Management Inc. now owns 15,063 shares of the company’s stock valued at $121,000 after buying an additional 224 shares during the period. 84.21% of the stock is currently owned by hedge funds and other institutional investors.
SunCoke Energy (NYSE:SXC) opened at 7.45 on Tuesday. The firm’s market cap is $478.13 million. The firm has a 50-day moving average of $7.19 and a 200 day moving average of $6.75. SunCoke Energy has a 1-year low of $2.05 and a 1-year high of $8.21.
SunCoke Energy (NYSE:SXC) last released its quarterly earnings results on Thursday, July 28th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by $0.05. SunCoke Energy had a positive return on equity of 0.95% and a negative net margin of 1.02%. The firm had revenue of $292.70 million for the quarter, compared to analysts’ expectations of $286.20 million. During the same period last year, the firm earned ($0.04) EPS. The business’s quarterly revenue was down 15.9% on a year-over-year basis. On average, analysts predict that SunCoke Energy will post $0.06 EPS for the current year.
About SunCoke Energy
SunCoke Energy, Inc is an independent producer of coke in the Americas. The Company also provides coal handling and/or mixing services at its Coal Logistics terminals. The Company’s segments include Domestic Coke, Brazil Coke, India Coke, Coal Logistics, and Corporate and Other. The Domestic Coke segment consists of its Jewell, Indiana Harbor, Haverhill, Granite City and Middletown cokemaking and heat recovery operations located in Vansant, Virginia; East Chicago, Indiana; Franklin Furnace, Ohio; Granite City, Illinois, and Middletown, Ohio, respectively.
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