Chart Industries, Inc. (GTLS) Short Interest Update
Chart Industries, Inc. (NASDAQ:GTLS) was the recipient of a large increase in short interest in the month of October. As of October 13th, there was short interest totalling 2,150,259 shares, an increase of 34.8% from the September 29th total of 1,595,686 shares. Currently, 7.8% of the company’s shares are short sold. Based on an average daily volume of 308,336 shares, the short-interest ratio is presently 7.0 days.
GTLS has been the subject of a number of recent analyst reports. Cowen and Company reaffirmed a “hold” rating and set a $40.00 price target on shares of Chart Industries in a research note on Sunday, October 22nd. Lake Street Capital lifted their price target on shares of Chart Industries from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday. Johnson Rice reaffirmed a “buy” rating and set a $48.00 price target (up from $42.00) on shares of Chart Industries in a research note on Monday, October 2nd. Zacks Investment Research cut shares of Chart Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, Northcoast Research raised shares of Chart Industries from a “neutral” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Monday, October 9th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $47.83.
Several institutional investors and hedge funds have recently made changes to their positions in GTLS. Vanguard Group Inc. increased its position in shares of Chart Industries by 8.8% during the first quarter. Vanguard Group Inc. now owns 3,842,890 shares of the industrial products company’s stock valued at $134,271,000 after acquiring an additional 310,641 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Chart Industries by 12.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,350,503 shares of the industrial products company’s stock valued at $81,633,000 after acquiring an additional 260,913 shares during the last quarter. Vivaldi Asset Management LLC acquired a new stake in shares of Chart Industries during the second quarter valued at about $2,858,000. Granite Point Capital Management L.P. acquired a new stake in shares of Chart Industries during the second quarter valued at about $2,431,000. Finally, Algert Global LLC acquired a new stake in shares of Chart Industries during the second quarter valued at about $2,305,000. Institutional investors and hedge funds own 85.56% of the company’s stock.
Shares of Chart Industries (GTLS) opened at 44.01 on Tuesday. The stock has a market capitalization of $1.35 billion, a PE ratio of 116.12 and a beta of 1.28. Chart Industries has a 52-week low of $27.47 and a 52-week high of $45.69. The firm has a 50-day moving average of $40.46 and a 200 day moving average of $36.18.
Chart Industries (NASDAQ:GTLS) last announced its quarterly earnings results on Thursday, October 26th. The industrial products company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07. Chart Industries had a negative net margin of 0.21% and a positive return on equity of 2.25%. The business had revenue of $240.50 million during the quarter, compared to analysts’ expectations of $235.96 million. During the same period last year, the business earned $0.53 earnings per share. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. Equities research analysts forecast that Chart Industries will post $0.82 EPS for the current fiscal year.
About Chart Industries
Chart Industries, Inc is a diversified global manufacturer of engineered equipment, packaged solutions, and value-add services used throughout the industrial gas, energy and biomedical industries. The Company operates through three business segments: Energy & Chemicals (E&C), Distribution & Storage (D&S) and BioMedical.
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