Cascades Inc. (OTCMKTS:CADNF) Sees Significant Growth in Short Interest

Cascades Inc. (OTCMKTS:CADNF) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 1,750,234 shares, a growth of 61.5% from the September 30th total of 1,083,651 shares. Based on an average daily volume of 35,189 shares, the days-to-cover ratio is currently 49.7 days.

Cascades Price Performance

Cascades stock traded up $0.08 during midday trading on Monday, reaching $12.38. 100 shares of the stock traded hands, compared to its average volume of 44,749. The stock’s fifty day moving average is $12.41 and its 200-day moving average is $9.73. Cascades has a 12 month low of $7.50 and a 12 month high of $13.20.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CADNF. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Cascades in a report on Monday, August 10th. Scotiabank reiterated an “outperform” rating on shares of Cascades in a report on Friday, August 14th. TD Securities reissued a “buy” rating on shares of Cascades in a research report on Tuesday, August 4th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Cascades in a research note on Monday, October 26th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Cascades currently has an average rating of “Moderate Buy”.

Cascades Company Profile

Cascades Inc is a Canadian company that produces sustainable packaging and hygiene products primarily from recycled and renewable fibers. Its offerings include corrugated and specialty packaging, containerboard, tissue products, and recovery and recycling services for commercial, industrial, and consumer markets.

Founded in 1964 by the Lemaire family in Kingsey Falls, Quebec, Cascades has grown from a paper mill using recycled materials into an integrated manufacturer serving customers across Canada and the United States.