Short Interest in Concordia International Corp. (CXRX) Increases By 32.2%
Concordia International Corp. (NASDAQ:CXRX) (TSE:CXR) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 3,810,575 shares, an increase of 32.2% from the August 15th total of 2,882,761 shares. Currently, 8.9% of the shares of the company are sold short. Based on an average trading volume of 200,990 shares, the short-interest ratio is presently 19.0 days.
Concordia International Corp. (CXRX) opened at 1.32 on Friday. The company has a 50 day moving average of $1.33 and a 200 day moving average of $1.49. The firm’s market capitalization is $67.51 million. Concordia International Corp. has a 1-year low of $1.09 and a 1-year high of $7.46.
Concordia International Corp. (NASDAQ:CXRX) (TSE:CXR) last issued its quarterly earnings results on Friday, August 11th. The company reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.04. Concordia International Corp. had a negative return on equity of 83.96% and a negative net margin of 269.97%. The firm had revenue of $160.80 million during the quarter, compared to the consensus estimate of $160.92 million. During the same period last year, the company earned $1.38 earnings per share. The company’s revenue for the quarter was down 30.6% on a year-over-year basis. Analysts forecast that Concordia International Corp. will post $0.66 EPS for the current year.
CXRX has been the subject of several research reports. Zacks Investment Research upgraded shares of Concordia International Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. ValuEngine cut shares of Concordia International Corp. from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Six research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The company presently has an average rating of “Sell” and an average price target of $8.00.
Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC acquired a new stake in shares of Concordia International Corp. during the first quarter worth $108,000. Virtu KCG Holdings LLC lifted its holdings in shares of Concordia International Corp. by 363.8% during the second quarter. Virtu KCG Holdings LLC now owns 78,635 shares of the company’s stock worth $123,000 after purchasing an additional 61,679 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Concordia International Corp. during the second quarter worth $124,000. Toronto Dominion Bank lifted its holdings in shares of Concordia International Corp. by 1.0% during the first quarter. Toronto Dominion Bank now owns 81,608 shares of the company’s stock worth $132,000 after purchasing an additional 782 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Concordia International Corp. by 290.2% during the second quarter. JPMorgan Chase & Co. now owns 142,919 shares of the company’s stock worth $223,000 after purchasing an additional 106,290 shares during the period. 9.27% of the stock is owned by hedge funds and other institutional investors.
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Concordia International Corp. Company Profile
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