Short Interest in Capital Product Partners L.P. (NASDAQ:CPLP) Declines By 28.6%

Capital Product Partners L.P. (NASDAQ:CPLP) was the target of a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 58,800 shares, a drop of 28.6% from the May 30th total of 82,400 shares. Based on an average daily volume of 131,500 shares, the short-interest ratio is presently 0.4 days. Currently, 0.1% of the company’s stock are sold short.

NASDAQ CPLP traded up $0.25 during trading hours on Friday, reaching $11.43. The company’s stock had a trading volume of 216,079 shares, compared to its average volume of 109,630. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.18 and a current ratio of 1.20. The company has a 50-day moving average of $10.36. Capital Product Partners has a 52 week low of $9.68 and a 52 week high of $22.33. The company has a market cap of $211.80 million, a PE ratio of 11.66 and a beta of 0.98.

Capital Product Partners (NASDAQ:CPLP) last issued its earnings results on Monday, May 13th. The shipping company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.41). Capital Product Partners had a positive return on equity of 4.19% and a negative net margin of 59.95%. The business had revenue of $26.28 million during the quarter, compared to the consensus estimate of $57.93 million. As a group, sell-side analysts forecast that Capital Product Partners will post 1.13 EPS for the current fiscal year.

Several equities analysts have recently commented on the stock. B. Riley set a $30.00 price target on shares of Customers Bancorp and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Zacks Investment Research raised shares of HAYS PLC/ADR from a “sell” rating to a “hold” rating in a research report on Tuesday, June 18th. ValuEngine cut shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Wells Fargo & Co reaffirmed a “buy” rating and set a $55.00 price target on shares of Metlife in a research report on Tuesday, May 21st. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $17.88.

Hedge funds and other institutional investors have recently modified their holdings of the business. Madrona Financial Services LLC bought a new position in Capital Product Partners in the fourth quarter worth about $35,000. Acadian Asset Management LLC bought a new position in Capital Product Partners in the fourth quarter worth about $32,000. Two Sigma Investments LP lifted its holdings in Capital Product Partners by 273.9% in the fourth quarter. Two Sigma Investments LP now owns 467,551 shares of the shipping company’s stock worth $977,000 after acquiring an additional 342,493 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Capital Product Partners by 18.3% in the fourth quarter. Two Sigma Advisers LP now owns 508,500 shares of the shipping company’s stock worth $1,063,000 after acquiring an additional 78,684 shares during the last quarter. Finally, Mraz Amerine & Associates Inc. lifted its holdings in Capital Product Partners by 109.8% in the first quarter. Mraz Amerine & Associates Inc. now owns 23,118 shares of the shipping company’s stock worth $53,000 after acquiring an additional 12,100 shares during the last quarter. 28.84% of the stock is currently owned by hedge funds and other institutional investors.

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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