Clearwater Paper Corporation (NYSE:CLW) Short Interest Update
by Tristan Rich · The Markets DailyClearwater Paper Corporation (NYSE:CLW – Get Free Report) was the target of a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 546,309 shares, a drop of 17.9% from the January 29th total of 665,680 shares. Based on an average daily volume of 254,518 shares, the days-to-cover ratio is presently 2.1 days. Currently, 3.5% of the shares of the stock are sold short. Currently, 3.5% of the shares of the stock are sold short. Based on an average daily volume of 254,518 shares, the days-to-cover ratio is presently 2.1 days.
Clearwater Paper Stock Performance
Clearwater Paper stock traded down $0.11 during mid-day trading on Thursday, hitting $14.75. The company had a trading volume of 15,661 shares, compared to its average volume of 236,421. The company has a market capitalization of $236.59 million, a price-to-earnings ratio of -13.17 and a beta of 0.23. Clearwater Paper has a 12-month low of $13.84 and a 12-month high of $30.96. The company’s fifty day moving average is $17.49 and its 200-day moving average is $18.81. The company has a current ratio of 2.43, a quick ratio of 1.13 and a debt-to-equity ratio of 0.42.
Clearwater Paper (NYSE:CLW – Get Free Report) last posted its earnings results on Wednesday, February 18th. The basic materials company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.08. The firm had revenue of $386.40 million during the quarter, compared to analysts’ expectations of $379.00 million. Clearwater Paper had a negative net margin of 1.20% and a negative return on equity of 2.11%.
Hedge Funds Weigh In On Clearwater Paper
Several institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC boosted its position in Clearwater Paper by 158.1% during the fourth quarter. Millennium Management LLC now owns 360,795 shares of the basic materials company’s stock worth $6,278,000 after purchasing an additional 221,029 shares in the last quarter. UBS Group AG lifted its position in shares of Clearwater Paper by 228.3% during the 3rd quarter. UBS Group AG now owns 258,186 shares of the basic materials company’s stock valued at $5,360,000 after buying an additional 179,539 shares in the last quarter. Invenomic Capital Management LP lifted its position in shares of Clearwater Paper by 113.0% during the 4th quarter. Invenomic Capital Management LP now owns 320,212 shares of the basic materials company’s stock valued at $5,572,000 after buying an additional 169,880 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Clearwater Paper by 33.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 557,953 shares of the basic materials company’s stock valued at $9,708,000 after acquiring an additional 139,013 shares during the period. Finally, Readystate Asset Management LP increased its holdings in Clearwater Paper by 19.2% in the 3rd quarter. Readystate Asset Management LP now owns 762,138 shares of the basic materials company’s stock worth $15,822,000 after acquiring an additional 122,688 shares in the last quarter. Hedge funds and other institutional investors own 89.98% of the company’s stock.
Wall Street Analyst Weigh In
CLW has been the subject of a number of recent analyst reports. TD Securities dropped their price target on shares of Clearwater Paper from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Truist Financial cut their price target on Clearwater Paper from $21.00 to $16.00 and set a “hold” rating on the stock in a research note on Thursday, February 19th. Weiss Ratings restated a “sell (d+)” rating on shares of Clearwater Paper in a report on Monday, December 29th. Finally, Royal Bank Of Canada cut their price objective on shares of Clearwater Paper from $25.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Clearwater Paper currently has a consensus rating of “Hold” and a consensus price target of $22.25.
View Our Latest Stock Analysis on Clearwater Paper
Clearwater Paper Company Profile
Clearwater Paper Corporation is an independent manufacturer of premium tissue and pulp and paperboard products for private-label and commercial customers in North America. The company operates through two core segments: Consumer Products, which produces bathroom tissue, paper towels and other away-from-home tissue products under private-label contracts; and Pulp & Paperboard, which supplies bleached paperboard used in folding cartons, foodservice packaging and specialty paper applications.
The Consumer Products segment services retail grocers, warehouse clubs, online merchants and janitorial distributors, leveraging multiple converting facilities to produce roll and folded tissue items for both household and institutional use.