Cactus, Inc. (NYSE:WHD) Sees Significant Growth in Short Interest

Cactus, Inc. (NYSE:WHD) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 1,200,000 shares, a growth of 38.8% from the August 15th total of 864,700 shares. Based on an average daily volume of 386,800 shares, the days-to-cover ratio is currently 3.1 days.

Shares of NYSE WHD traded down $1.09 during midday trading on Monday, reaching $33.57. The stock had a trading volume of 327,181 shares, compared to its average volume of 423,353. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 58.90 and a beta of 2.40. Cactus has a twelve month low of $16.11 and a twelve month high of $44.20. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.24 and a current ratio of 6.44. The company’s 50 day moving average price is $35.83 and its 200 day moving average price is $34.87.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, July 28th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.02). The firm had revenue of $108.89 million during the quarter, compared to analyst estimates of $103.50 million. Cactus had a return on equity of 4.45% and a net margin of 9.77%. Equities analysts forecast that Cactus will post 0.68 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 16th. Stockholders of record on Monday, August 30th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 27th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.19%. This is an increase from Cactus’s previous quarterly dividend of $0.09. Cactus’s payout ratio is 54.79%.

WHD has been the topic of several research reports. Stifel Nicolaus lifted their price target on shares of Cactus from $38.00 to $43.00 and gave the company a “buy” rating in a report on Friday, July 2nd. Zacks Investment Research upgraded shares of Cactus from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Monday, July 12th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $34.33.

Several institutional investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC lifted its position in shares of Cactus by 8.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 192,033 shares of the company’s stock valued at $7,051,000 after acquiring an additional 15,050 shares during the period. Morgan Stanley lifted its position in shares of Cactus by 212.5% during the 2nd quarter. Morgan Stanley now owns 200,359 shares of the company’s stock valued at $7,358,000 after acquiring an additional 136,250 shares during the period. Zacks Investment Management acquired a new position in shares of Cactus during the 2nd quarter valued at $875,000. Metropolitan Life Insurance Co NY lifted its position in shares of Cactus by 104,600.0% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 15,705 shares of the company’s stock valued at $577,000 after acquiring an additional 15,690 shares during the period. Finally, MetLife Investment Management LLC lifted its position in shares of Cactus by 10.8% during the 2nd quarter. MetLife Investment Management LLC now owns 19,577 shares of the company’s stock valued at $719,000 after acquiring an additional 1,915 shares during the period. Institutional investors own 77.07% of the company’s stock.

Cactus Company Profile

Cactus, Inc is a holding company, which engages in the design, manufacture and sale of wellhead and pressure control equipment. Its products include Cactus SafeDrill wellhead systems as well as frac stacks, Cactus SafeLink monobore, SafeClamp and SafeInject systems. It also offers field services for its products and rental items to assist with the installation, maintenance, and handling of the wellhead and pressure control equipment.

Further Reading: Initial Coin Offering (ICO)

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