Short Interest in Casella Waste Systems, Inc. (NASDAQ:CWST) Increases By 27.7%

Casella Waste Systems, Inc. (NASDAQ:CWST) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 4,621,943 shares, an increase of 27.7% from the December 15th total of 3,619,789 shares. Based on an average daily trading volume, of 1,842,841 shares, the short-interest ratio is currently 2.5 days. Approximately 7.6% of the shares of the company are sold short. Approximately 7.6% of the shares of the company are sold short. Based on an average daily trading volume, of 1,842,841 shares, the short-interest ratio is currently 2.5 days.

Casella Waste Systems Price Performance

CWST stock traded up $1.36 during trading on Friday, reaching $106.15. 593,669 shares of the company were exchanged, compared to its average volume of 1,137,616. Casella Waste Systems has a 52-week low of $82.22 and a 52-week high of $121.24. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.43 and a current ratio of 1.51. The company has a market cap of $6.74 billion, a P/E ratio of 442.31 and a beta of 0.80. The stock’s 50 day moving average price is $97.31 and its 200 day moving average price is $97.17.

Casella Waste Systems (NASDAQ:CWST) last announced its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.33 by $0.09. The business had revenue of $485.35 million for the quarter, compared to analyst estimates of $477.24 million. Casella Waste Systems had a return on equity of 5.63% and a net margin of 0.85%.The company’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.27 EPS. As a group, analysts predict that Casella Waste Systems will post 1.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CWST. Ameritas Advisory Services LLC purchased a new stake in Casella Waste Systems in the 2nd quarter worth approximately $25,000. Maseco LLP purchased a new stake in shares of Casella Waste Systems in the second quarter valued at $25,000. Caitong International Asset Management Co. Ltd increased its stake in Casella Waste Systems by 325.5% in the second quarter. Caitong International Asset Management Co. Ltd now owns 217 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 166 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Casella Waste Systems by 301.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company’s stock worth $27,000 after buying an additional 184 shares during the last quarter. Finally, AlphaQuest LLC acquired a new stake in Casella Waste Systems in the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 99.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Raymond James Financial restated a “strong-buy” rating and set a $120.00 price objective on shares of Casella Waste Systems in a research report on Monday, November 3rd. JPMorgan Chase & Co. began coverage on shares of Casella Waste Systems in a report on Thursday, December 11th. They set a “neutral” rating and a $112.00 price target for the company. The Goldman Sachs Group reduced their price objective on shares of Casella Waste Systems from $125.00 to $111.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Casella Waste Systems in a research report on Monday, December 29th. Finally, UBS Group raised their price target on Casella Waste Systems from $135.00 to $140.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $114.33.

About Casella Waste Systems

Casella Waste Systems, Inc is a regional resource management company headquartered in Rutland, Vermont. Established in 1975, the company has grown from a single-truck operation into a multi-state provider of integrated waste management solutions. Casella offers a comprehensive range of services, including residential, commercial and industrial waste collection, transfer station operations, landfill disposal, recycling processing and organics management.

Through a network of solid waste transfer stations, recycling facilities and landfills, Casella serves communities primarily across the northeastern United States and parts of the mid-Atlantic region.