Cascades Inc. (OTCMKTS:CADNF – Get Free Report) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 1,542,135 shares, an increase of 61.9% from the August 31st total of 952,382 shares. Based on an average trading volume of 81,054 shares, the days-to-cover ratio is currently 19.0 days.
Cascades Stock Down 0.5%
CADNF opened at $12.79 on Friday. The company has a fifty day moving average of $11.88 and a 200 day moving average of $9.38. Cascades has a fifty-two week low of $6.82 and a fifty-two week high of $13.20.
Wall Street Analyst Weigh In
A number of research firms have commented on CADNF. Royal Bank Of Canada restated an “outperform” rating on shares of Cascades in a research note on Monday, August 10th. TD Securities restated a “buy” rating on shares of Cascades in a research report on Tuesday, August 4th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Cascades in a report on Monday, August 10th. Finally, Scotiabank reiterated an “outperform” rating on shares of Cascades in a research note on Friday, August 14th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.
About Cascades
Cascades Inc is a Canadian company that develops, manufactures and markets packaging and hygiene products made primarily from recycled and virgin fibers. Its offerings include corrugated and coated recycled packaging, containerboard, tissue paper, away-from-home hygiene products, and related converting solutions for industrial, commercial and consumer markets.
Founded in 1964 by the Lemaire family, Cascades built its business around the recovery and reuse of fiber materials. The company serves customers across Canada and the United States through manufacturing and converting facilities, providing packaging and tissue solutions to sectors such as food and beverage, consumer products, retail, industrial manufacturing and institutional services.
Cascades is headquartered in Kingsey Falls, Quebec.
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