Capital Product Partners L.P. (NASDAQ:CPLP) saw a significant decline in short interest in November. As of November 29th, there was short interest totalling 81,900 shares, a decline of 27.3% from the November 14th total of 112,600 shares. Based on an average trading volume of 80,400 shares, the short-interest ratio is currently 1.0 days. Approximately 0.6% of the shares of the stock are short sold.
Shares of NASDAQ CPLP traded down $0.03 during midday trading on Wednesday, hitting $11.71. 40,272 shares of the company’s stock were exchanged, compared to its average volume of 102,892. Capital Product Partners has a 12-month low of $9.68 and a 12-month high of $17.36. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.58. The company has a market cap of $213.41 million, a price-to-earnings ratio of 11.95 and a beta of 1.07. The business’s fifty day moving average price is $11.63 and its two-hundred day moving average price is $10.96.
Capital Product Partners (NASDAQ:CPLP) last announced its earnings results on Thursday, October 31st. The shipping company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.22). Capital Product Partners had a negative net margin of 73.89% and a positive return on equity of 6.40%. The company had revenue of $25.71 million during the quarter, compared to analysts’ expectations of $26.22 million. Equities analysts expect that Capital Product Partners will post 0.89 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN grew its position in Capital Product Partners by 410.5% in the second quarter. Wells Fargo & Company MN now owns 9,316 shares of the shipping company’s stock worth $98,000 after acquiring an additional 7,491 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Capital Product Partners during the second quarter worth about $110,000. Sunbelt Securities Inc. bought a new stake in Capital Product Partners during the third quarter worth about $160,000. HighTower Advisors LLC purchased a new position in shares of Capital Product Partners in the 2nd quarter worth about $230,000. Finally, Royal Bank of Canada boosted its holdings in shares of Capital Product Partners by 494.9% in the 2nd quarter. Royal Bank of Canada now owns 23,593 shares of the shipping company’s stock worth $248,000 after purchasing an additional 19,627 shares in the last quarter. Hedge funds and other institutional investors own 20.07% of the company’s stock.
Several analysts have issued reports on CPLP shares. ValuEngine upgraded shares of Capital Product Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. TheStreet raised shares of Capital Product Partners from a “d+” rating to a “c-” rating in a report on Monday, October 14th. Finally, Zacks Investment Research downgraded Capital Product Partners from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $15.67.
About Capital Product Partners
Capital Product Partners LP operates as an international shipping company. It engages in the seaborne transportation of cargo, including crude oil, refined oil products and chemicals. The company fleet consists of vessels, suezmax crude oil tankers, medium range tankers, and capesize bulk carrier. Capital Product Partners was founded on January 16, 2007 and is headquartered in Piraeus, Greece.
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