Cactus, Inc. (NYSE:WHD) Short Interest Down 18.6% in September

Cactus, Inc. (NYSE:WHD) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totalling 4,390,000 shares, a drop of 18.6% from the September 15th total of 5,390,000 shares. Based on an average daily volume of 716,700 shares, the short-interest ratio is currently 6.1 days.

Cactus Price Performance

Shares of Cactus stock opened at $62.97 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.75 and a quick ratio of 2.59. The business’s 50 day simple moving average is $59.53 and its two-hundred day simple moving average is $54.94. The stock has a market capitalization of $5.01 billion, a P/E ratio of 25.09, a price-to-earnings-growth ratio of 2.29 and a beta of 1.95. Cactus has a one year low of $37.58 and a one year high of $64.96.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.09. The business had revenue of $290.39 million for the quarter, compared to analysts’ expectations of $276.76 million. Cactus had a return on equity of 21.22% and a net margin of 16.88%. The business’s quarterly revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 EPS. Analysts forecast that Cactus will post 3.04 EPS for the current year.

Cactus Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were paid a $0.13 dividend. This is a boost from Cactus’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Monday, August 26th. Cactus’s payout ratio is 20.72%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WHD. Barclays boosted their target price on Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Citigroup boosted their price objective on shares of Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Piper Sandler reduced their target price on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Finally, Stifel Nicolaus decreased their target price on shares of Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Cactus presently has a consensus rating of “Hold” and a consensus price target of $55.40.

Hedge Funds Weigh In On Cactus

A number of large investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in shares of Cactus by 27.5% during the first quarter. GAMMA Investing LLC now owns 1,005 shares of the company’s stock valued at $50,000 after buying an additional 217 shares during the period. SG Americas Securities LLC purchased a new position in shares of Cactus during the first quarter valued at approximately $115,000. Covestor Ltd increased its stake in shares of Cactus by 251.8% during the first quarter. Covestor Ltd now owns 2,508 shares of the company’s stock valued at $126,000 after buying an additional 1,795 shares during the period. Central Pacific Bank Trust Division purchased a new position in shares of Cactus during the first quarter valued at approximately $182,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in shares of Cactus during the first quarter valued at approximately $202,000. 85.11% of the stock is owned by hedge funds and other institutional investors.

About Cactus

Cactus, Inc, together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers.