Constellium SE (NYSE:CSTM) Sees Significant Growth in Short Interest


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Constellium SE (NYSE:CSTM) saw a significant increase in short interest in April. As of April 15th, there was short interest totalling 2,690,000 shares, an increase of 25.1% from the March 31st total of 2,150,000 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily volume of 999,100 shares, the days-to-cover ratio is currently 2.7 days.

Institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in shares of Constellium by 20.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,374,741 shares of the industrial products company’s stock valued at $243,073,000 after acquiring an additional 2,948,983 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Constellium by 140.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,833,173 shares of the industrial products company’s stock valued at $39,637,000 after purchasing an additional 1,656,758 shares during the period. Norges Bank bought a new stake in Constellium in the fourth quarter valued at approximately $20,470,000. Robeco Schweiz AG raised its holdings in Constellium by 52.9% in the first quarter. Robeco Schweiz AG now owns 2,600,000 shares of the industrial products company’s stock worth $38,220,000 after purchasing an additional 900,000 shares during the period. Finally, FMR LLC boosted its position in shares of Constellium by 24.9% during the first quarter. FMR LLC now owns 4,166,800 shares of the industrial products company’s stock worth $33,251,000 after purchasing an additional 829,800 shares in the last quarter. Institutional investors own 85.01% of the company’s stock.

Constellium stock traded up $1.20 during trading hours on Tuesday, reaching $16.62. 2,105,533 shares of the company’s stock traded hands, compared to its average volume of 989,709. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -87.47 and a beta of 2.58. Constellium has a fifty-two week low of $5.71 and a fifty-two week high of $17.08. The firm’s 50 day moving average is $15.31 and its 200-day moving average is $13.55.

Constellium (NYSE:CSTM) last issued its earnings results on Wednesday, April 28th. The industrial products company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.08 by $0.24. Constellium had a negative net margin of 0.43% and a negative return on equity of 23.21%. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the company posted ($0.22) EPS. The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. On average, analysts forecast that Constellium will post 0.01 EPS for the current fiscal year.

A number of brokerages have recently weighed in on CSTM. Credit Suisse Group raised their target price on Constellium from $19.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, April 29th. Northland Securities raised shares of Constellium from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $14.00 to $21.00 in a research note on Monday, March 29th. JPMorgan Chase & Co. began coverage on shares of Constellium in a research note on Thursday, April 29th. They set an “overweight” rating and a $18.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Constellium from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, April 29th. Five research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus target price of $20.20.

About Constellium

Constellium SE, together with its subsidiaries, engages in the design, manufacture, and sale of specialty rolled and extruded aluminum products for the packaging, aerospace, and automotive end-markets. The company operates through three segments: Packaging & Automotive Rolled Products, Aerospace & Transportation, and Automotive Structures & Industry.

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