Calpine Corporation (CPN) Short Interest Update
Calpine Corporation (NYSE:CPN) was the target of a large drop in short interest in August. As of August 15th, there was short interest totalling 15,885,475 shares, a drop of 23.2% from the July 31st total of 20,689,060 shares. Based on an average daily trading volume, of 2,392,047 shares, the short-interest ratio is presently 6.6 days. Currently, 4.7% of the company’s stock are sold short.
Shares of Calpine Corporation (CPN) opened at 14.67 on Monday. Calpine Corporation has a 1-year low of $9.30 and a 1-year high of $14.94. The company has a 50-day moving average of $14.23 and a 200-day moving average of $12.49. The firm has a market capitalization of $5.29 billion, a PE ratio of 110.30 and a beta of 1.01.
Calpine Corporation (NYSE:CPN) last issued its quarterly earnings results on Friday, July 28th. The utilities provider reported ($0.61) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.63. Calpine Corporation had a negative return on equity of 8.92% and a net margin of 0.57%. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the business earned $0.06 earnings per share. Calpine Corporation’s revenue for the quarter was up 79.0% compared to the same quarter last year. Equities research analysts predict that Calpine Corporation will post $0.48 EPS for the current fiscal year.
A number of research firms have recently weighed in on CPN. Macquarie cut shares of Calpine Corporation from an “outperform” rating to a “neutral” rating in a report on Thursday. Zacks Investment Research cut shares of Calpine Corporation from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 22nd. Royal Bank Of Canada cut shares of Calpine Corporation from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $15.00 to $15.25 in a report on Monday, August 21st. Guggenheim cut shares of Calpine Corporation from a “buy” rating to a “neutral” rating and lowered their price target for the company from $20.00 to $15.25 in a report on Monday, August 21st. Finally, BidaskClub cut shares of Calpine Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $14.95.
In other news, Director Jack A. Fusco sold 949,525 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $14.72, for a total value of $13,977,008.00. Following the sale, the director now directly owns 344,835 shares in the company, valued at approximately $5,075,971.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jack A. Fusco sold 348,100 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $14.73, for a total transaction of $5,127,513.00. Following the completion of the sale, the director now owns 344,835 shares in the company, valued at $5,079,419.55. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its holdings in shares of Calpine Corporation by 47.2% during the second quarter. PNC Financial Services Group Inc. now owns 7,618 shares of the utilities provider’s stock worth $102,000 after purchasing an additional 2,443 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Calpine Corporation by 85.0% during the first quarter. Nordea Investment Management AB now owns 9,935 shares of the utilities provider’s stock worth $110,000 after purchasing an additional 4,565 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Calpine Corporation by 20.7% during the first quarter. Advisors Asset Management Inc. now owns 10,106 shares of the utilities provider’s stock worth $112,000 after purchasing an additional 1,732 shares during the period. BB&T Securities LLC acquired a new stake in shares of Calpine Corporation during the first quarter worth $134,000. Finally, Hourglass Capital LLC acquired a new stake in shares of Calpine Corporation during the second quarter worth $135,000. 97.16% of the stock is owned by hedge funds and other institutional investors.
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Calpine Corporation Company Profile
Calpine Corporation is a power generation company. The Company is engaged in the ownership and operation of primarily natural gas-fired and geothermal power plants in North America. The Company’s segments include West (including geothermal), Texas and East (including Canada). In the Northeast and Mid-Atlantic regions, the Company has generating units capable of burning either natural gas or fuel oil.
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