CBL International Limited (NASDAQ:BANL) Shares Shorted: Short Interest Down 74.9% in October

CBL International Limited (NASDAQ:BANL) was the recipient of a significant decline in short interest during the month of October. As of October 30th, there was short interest totaling 1,900 shares, a decline of 74.9% from the October 15th total of 7,560 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 22,135 shares, the days-to-cover ratio is presently 0.1 days.

CBL International Price Performance

BANL opened at $2.92 on Thursday. The stock has a fifty day moving average of $4.83 and a 200-day moving average of $6.10. CBL International has a fifty-two week low of $2.77 and a fifty-two week high of $16.40.

CBL International (NASDAQ:BANL) last released its quarterly earnings results on Tuesday, August 18th. The company reported $0.03 EPS for the quarter. The business had revenue of $197.79 million during the quarter.

CBL International Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, August 28th were given a dividend of $0.10 per share. The ex-dividend date was Friday, August 28th.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BANL. Wall Street Zen upgraded CBL International from a “hold” rating to a “buy” rating in a research note on Sunday, September 13th. Weiss Ratings upgraded CBL International from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, October 28th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

About CBL International

CBL International Limited is a marine fuel logistics company that supplies fuel and related products to vessels. Its offerings include marine fuel oil, marine gas oil and lubricants used by commercial shipping operators. The company also provides logistics services associated with the storage, transportation and delivery of marine fuel. These services are intended to support ship owners, operators and charterers in meeting their bunkering requirements. CBL International was established in 2015 and serves customers in the Asia-Pacific region, including markets associated with major ports in China, Hong Kong, Singapore and Malaysia.