Capital Product Partners L.P. (NASDAQ:CPLP) was the target of a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 65,700 shares, a drop of 17.4% from the June 30th total of 79,500 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average trading volume of 123,500 shares, the short-interest ratio is presently 0.5 days.
Shares of CPLP traded up $0.11 during trading hours on Thursday, reaching $10.17. 69,300 shares of the company traded hands, compared to its average volume of 114,786. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $186.41 million, a PE ratio of 10.38 and a beta of 0.99. Capital Product Partners has a fifty-two week low of $9.68 and a fifty-two week high of $21.49. The stock has a fifty day simple moving average of $10.89 and a 200 day simple moving average of $8.30.
Capital Product Partners (NASDAQ:CPLP) last posted its quarterly earnings data on Wednesday, July 31st. The shipping company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $26.83 million for the quarter, compared to analyst estimates of $27.32 million. Capital Product Partners had a positive return on equity of 5.70% and a negative net margin of 69.36%. Research analysts predict that Capital Product Partners will post 1.11 EPS for the current fiscal year.
CPLP has been the topic of a number of analyst reports. Wells Fargo & Co reaffirmed a “hold” rating on shares of Capital Product Partners in a research note on Tuesday, May 21st. Zacks Investment Research raised Capital Product Partners from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. ValuEngine lowered Capital Product Partners from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 1st. Finally, B. Riley set a $14.00 price objective on Capital Product Partners and gave the company a “buy” rating in a research note on Tuesday, May 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Capital Product Partners has an average rating of “Hold” and a consensus target price of $17.88.
A number of large investors have recently modified their holdings of the business. Wells Fargo & Company MN boosted its stake in Capital Product Partners by 410.5% in the 2nd quarter. Wells Fargo & Company MN now owns 9,316 shares of the shipping company’s stock worth $98,000 after buying an additional 7,491 shares during the last quarter. Goodman Financial Corp boosted its stake in Capital Product Partners by 1.0% in the 1st quarter. Goodman Financial Corp now owns 973,494 shares of the shipping company’s stock worth $1,460,000 after buying an additional 9,530 shares during the last quarter. Mraz Amerine & Associates Inc. boosted its stake in Capital Product Partners by 109.8% in the 1st quarter. Mraz Amerine & Associates Inc. now owns 23,118 shares of the shipping company’s stock worth $53,000 after buying an additional 12,100 shares during the last quarter. HighTower Advisors LLC acquired a new stake in Capital Product Partners in the 2nd quarter worth about $230,000. Finally, Acadian Asset Management LLC boosted its stake in Capital Product Partners by 731.0% in the 2nd quarter. Acadian Asset Management LLC now owns 27,848 shares of the shipping company’s stock worth $293,000 after buying an additional 24,497 shares during the last quarter. 28.27% of the stock is currently owned by hedge funds and other institutional investors.
About Capital Product Partners
Capital Product Partners LP operates as an international shipping company. It engages in the seaborne transportation of cargo, including crude oil, refined oil products and chemicals. The company fleet consists of vessels, suezmax crude oil tankers, medium range tankers, and capesize bulk carrier. Capital Product Partners was founded on January 16, 2007 and is headquartered in Piraeus, Greece.
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