Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) Short Interest Up 11.8% in June

Consolidated Communications Holdings, Inc. (NASDAQ:CNSL) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 4,180,000 shares, an increase of 11.8% from the May 31st total of 3,740,000 shares. Approximately 5.5% of the company’s stock are sold short. Based on an average trading volume of 507,600 shares, the days-to-cover ratio is presently 8.2 days.

Consolidated Communications Stock Up 0.2 %

Shares of CNSL stock traded up $0.01 during trading hours on Wednesday, reaching $4.40. 65,226 shares of the company’s stock were exchanged, compared to its average volume of 643,106. The stock has a market cap of $521.09 million, a PE ratio of -1.70 and a beta of 1.00. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 6.09. The stock’s fifty day moving average price is $4.34 and its two-hundred day moving average price is $4.35. Consolidated Communications has a 1 year low of $2.93 and a 1 year high of $4.65.

Consolidated Communications (NASDAQ:CNSL) last released its earnings results on Tuesday, May 7th. The utilities provider reported ($0.28) earnings per share for the quarter. The company had revenue of $274.68 million for the quarter. Consolidated Communications had a negative return on equity of 19.47% and a negative net margin of 22.42%.

Institutional Investors Weigh In On Consolidated Communications

Institutional investors and hedge funds have recently modified their holdings of the company. Kingswood Wealth Advisors LLC purchased a new position in shares of Consolidated Communications during the 4th quarter valued at about $47,000. Envestnet Portfolio Solutions Inc. acquired a new position in Consolidated Communications in the third quarter valued at approximately $50,000. Innealta Capital LLC purchased a new stake in Consolidated Communications in the 1st quarter worth approximately $53,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Consolidated Communications by 39.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,982 shares of the utilities provider’s stock worth $74,000 after purchasing an additional 4,803 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Consolidated Communications during the 1st quarter worth approximately $83,000. Institutional investors and hedge funds own 79.98% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Consolidated Communications in a research report on Wednesday. They set a “sell” rating on the stock.

About Consolidated Communications

Consolidated Communications Holdings, Inc, together with its subsidiaries, provides broadband and business communication solutions for consumer, commercial, and carrier channels in the United States. It offers high-speed broadband Internet access, SIP trunking, and voice over Internet protocol (VoIP) phone services; commercial data connectivity services in various markets, including Ethernet services, private line data services, software defined wide area network, and multi-protocol label switching services; networking services; cloud-based services; and data center and disaster recovery solutions.