OCI Partners LP (OCIP) Short Interest Update
OCI Partners LP (NYSE:OCIP) saw a significant increase in short interest during the month of December. As of December 29th, there was short interest totalling 5,198,927 shares, an increase of 216,702.6% from the December 15th total of 2,398 shares. Approximately 55.8% of the company’s shares are sold short. Based on an average daily trading volume, of 597,498 shares, the days-to-cover ratio is currently 8.7 days.
In other OCI Partners news, Director Nassef Sawiris bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was acquired at an average cost of $7.12 per share, for a total transaction of $35,600.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ocip Holding Llc bought 7,276,549 shares of the firm’s stock in a transaction dated Tuesday, December 26th. The shares were acquired at an average price of $8.40 per share, with a total value of $61,123,011.60. Following the completion of the transaction, the director now owns 76,774,139 shares of the company’s stock, valued at approximately $644,902,767.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 7,292,749 shares of company stock valued at $61,238,804.
A hedge fund recently raised its stake in OCI Partners stock. Cowen Inc. increased its position in shares of OCI Partners LP (NYSE:OCIP) by 27.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 265,105 shares of the basic materials company’s stock after buying an additional 56,685 shares during the period. Cowen Inc. owned about 0.30% of OCI Partners worth $2,121,000 at the end of the most recent quarter. Institutional investors own 15.04% of the company’s stock.
OCI Partners (NYSE:OCIP) last released its earnings results on Monday, November 6th. The basic materials company reported ($0.01) earnings per share for the quarter. OCI Partners had a negative return on equity of 3.70% and a negative net margin of 1.79%.
OCIP has been the subject of several research analyst reports. BidaskClub upgraded OCI Partners from a “strong sell” rating to a “sell” rating in a research report on Saturday, November 11th. Citigroup upgraded OCI Partners from a “sell” rating to a “neutral” rating in a research report on Friday, January 5th.
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About OCI Partners
OCI Partners LP owns and operates an integrated methanol and ammonia production facility that is located on the Texas Gulf Coast near Beaumont. The Company has an annual methanol production capacity of approximately 912,500 metric tons and an annual ammonia production capacity of approximately 331,000 metric tons.
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