SunCoke Energy Inc (NYSE:SXC) Sees Large Increase in Short Interest
SunCoke Energy Inc (NYSE:SXC) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 2,850,000 shares, a growth of 23.4% from the June 15th total of 2,310,000 shares. Currently, 3.5% of the shares of the company are sold short. Based on an average daily trading volume, of 1,100,000 shares, the short-interest ratio is currently 2.6 days.
SXC has been the topic of several research reports. Zacks Investment Research lowered shares of SunCoke Energy from a “hold” rating to a “sell” rating in a research note on Thursday, May 28th. B. Riley reduced their price objective on SunCoke Energy from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, March 24th. Finally, ValuEngine raised SunCoke Energy from a “sell” rating to a “hold” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. SunCoke Energy has an average rating of “Hold” and a consensus price target of $7.25.
NYSE SXC traded down $0.09 on Tuesday, hitting $2.84. The stock had a trading volume of 678,740 shares, compared to its average volume of 1,035,481. The company’s 50-day moving average is $3.19 and its two-hundred day moving average is $4.26. SunCoke Energy has a one year low of $2.33 and a one year high of $9.17. The stock has a market cap of $221.80 million, a price-to-earnings ratio of -1.68 and a beta of 0.81. The company has a quick ratio of 1.79, a current ratio of 2.68 and a debt-to-equity ratio of 1.81.
Several hedge funds and other institutional investors have recently bought and sold shares of SXC. PNC Financial Services Group Inc. raised its position in SunCoke Energy by 113.1% in the first quarter. PNC Financial Services Group Inc. now owns 9,011 shares of the energy company’s stock worth $35,000 after acquiring an additional 4,782 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of SunCoke Energy in the first quarter worth $46,000. Diversified Trust Co purchased a new position in SunCoke Energy during the second quarter valued at approximately $47,000. Alberta Investment Management Corp acquired a new position in SunCoke Energy in the 1st quarter worth about $70,000. Finally, Nisa Investment Advisors LLC increased its holdings in SunCoke Energy by 2,625.0% in the first quarter. Nisa Investment Advisors LLC now owns 21,800 shares of the energy company’s stock worth $84,000 after buying an additional 21,000 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.
SunCoke Energy Company Profile
SunCoke Energy, Inc operates as an independent producer of coke in the Americas. The company operates through three segments: Domestic Coke, Brazil Coke, and Logistics. It offers metallurgical and thermal coal. The company also provides handling and/or mixing services to steel, coke, electric utility, coal producing, and other manufacturing based customers.
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