Short Interest in Central Puerto S.A. (NYSE:CEPU) Drops By 9.4%

Central Puerto S.A. (NYSE:CEPU) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 790,800 shares, a drop of 9.4% from the October 15th total of 873,000 shares. Based on an average trading volume of 325,100 shares, the days-to-cover ratio is presently 2.4 days.

Hedge Funds Weigh In On Central Puerto

A number of institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets purchased a new stake in Central Puerto during the first quarter valued at about $29,000. Acadian Asset Management LLC acquired a new position in Central Puerto in the second quarter worth approximately $320,000. Ping Capital Management Inc. acquired a new stake in Central Puerto during the 2nd quarter worth about $390,000. Truist Financial Corp acquired a new position in Central Puerto during the second quarter worth $161,000. Finally, GAMMA Investing LLC increased its position in Central Puerto by 62.4% during the third quarter. GAMMA Investing LLC now owns 3,694 shares of the company’s stock worth $35,000 after acquiring an additional 1,420 shares during the period. 2.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Bank of America increased their price objective on shares of Central Puerto from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th.

Central Puerto Stock Performance

Shares of CEPU stock traded up $0.29 during trading hours on Tuesday, reaching $13.69. 335,905 shares of the company’s stock were exchanged, compared to its average volume of 326,409. The company has a market cap of $2.07 billion, a P/E ratio of 5.37 and a beta of 1.23. Central Puerto has a 1 year low of $7.00 and a 1 year high of $13.94. The company’s 50 day moving average is $10.73 and its two-hundred day moving average is $9.75. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.13 and a quick ratio of 1.97.

Central Puerto (NYSE:CEPU) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.19). Central Puerto had a net margin of 56.44% and a return on equity of 22.76%. The business had revenue of $185.00 million during the quarter, compared to analysts’ expectations of $200.26 million. Equities research analysts anticipate that Central Puerto will post 0.74 EPS for the current fiscal year.

Central Puerto Company Profile

Central Puerto SA engages in the electric power generation in Argentina. It operates through three segments: Electric Power Generation from Conventional Sources, Electric Power Generation from Renewable Sources, and Natural Gas Transport and Distribution. The company generates energy through thermal, hydroelectric, and wind farms.