Century Aluminum Company (CENX) Sees Large Decrease in Short Interest
Century Aluminum Company (NASDAQ:CENX) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 10,871,743 shares, a decline of 15.6% from the August 15th total of 12,887,523 shares. Based on an average daily trading volume, of 2,416,455 shares, the short-interest ratio is currently 4.5 days. Currently, 22.1% of the company’s stock are sold short.
Hedge funds have recently bought and sold shares of the stock. Prudential Financial Inc. increased its position in Century Aluminum by 13.6% during the 1st quarter. Prudential Financial Inc. now owns 96,609 shares of the industrial products company’s stock valued at $1,226,000 after buying an additional 11,538 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of Century Aluminum in the 2nd quarter worth $2,825,000. Clinton Group Inc. bought a new stake in shares of Century Aluminum in the 1st quarter worth $143,000. Sei Investments Co. increased its holdings in shares of Century Aluminum by 4.9% in the 2nd quarter. Sei Investments Co. now owns 115,453 shares of the industrial products company’s stock worth $1,799,000 after purchasing an additional 5,380 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Century Aluminum by 3.9% in the 1st quarter. Principal Financial Group Inc. now owns 378,009 shares of the industrial products company’s stock worth $4,797,000 after purchasing an additional 14,019 shares in the last quarter. 67.18% of the stock is owned by institutional investors.
Several research analysts recently issued reports on the company. Macquarie assumed coverage on Century Aluminum in a research report on Thursday, September 7th. They set a “neutral” rating on the stock. BidaskClub raised Century Aluminum from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. J P Morgan Chase & Co raised Century Aluminum from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $15.00 to $22.00 in a research report on Monday, August 21st. Cowen and Company set a $16.00 target price on Century Aluminum and gave the company a “hold” rating in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research raised Century Aluminum from a “hold” rating to a “strong-buy” rating and set a $19.00 target price on the stock in a research report on Tuesday, August 1st. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $17.20.
Century Aluminum (NASDAQ CENX) opened at 19.36 on Friday. The company’s 50 day moving average price is $17.01 and its 200 day moving average price is $14.91. The stock’s market cap is $1.69 billion. Century Aluminum has a 12 month low of $5.72 and a 12 month high of $20.63.
Century Aluminum (NASDAQ:CENX) last posted its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.28). Century Aluminum had a negative net margin of 16.48% and a negative return on equity of 5.61%. The company had revenue of $388.80 million for the quarter, compared to the consensus estimate of $398.33 million. During the same period last year, the business earned ($0.05) EPS. The firm’s quarterly revenue was up 19.0% on a year-over-year basis. Equities analysts forecast that Century Aluminum will post $0.54 EPS for the current fiscal year.
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Century Aluminum Company Profile
Century Aluminum Company (Century) is a holding company, which is a producer of primary aluminum and operates aluminum reduction facilities, or smelters, in the United States and Iceland. The Company operates through primary aluminum segment. The Company’s primary aluminum facilities produce standard grade primary aluminum products.
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