Cypress Energy Partners LP (NYSE:CELP) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 23,300 shares, a growth of 56.4% from the July 31st total of 14,900 shares. Based on an average daily trading volume, of 10,600 shares, the days-to-cover ratio is presently 2.2 days. Currently, 0.5% of the company’s shares are short sold.
In other news, Director John T. Mcnabb II acquired 5,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $7.25 per share, with a total value of $36,250.00. Following the completion of the purchase, the director now directly owns 70,262 shares of the company’s stock, valued at approximately $509,399.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
An institutional investor recently raised its position in Cypress Energy Partners stock. Morgan Stanley raised its position in shares of Cypress Energy Partners LP (NYSE:CELP) by 242.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 21,884 shares of the oil and gas company’s stock after purchasing an additional 15,500 shares during the quarter. Morgan Stanley owned approximately 0.18% of Cypress Energy Partners worth $160,000 at the end of the most recent quarter. 1.48% of the stock is owned by institutional investors.
Shares of Cypress Energy Partners stock traded up $0.37 on Thursday, hitting $8.13. The stock had a trading volume of 1,288 shares, compared to its average volume of 13,645. The stock has a 50 day moving average of $7.39 and a 200 day moving average of $7.31. Cypress Energy Partners has a twelve month low of $5.36 and a twelve month high of $8.10. The company has a debt-to-equity ratio of 8.64, a quick ratio of 2.82 and a current ratio of 2.82. The firm has a market capitalization of $91.68 million, a P/E ratio of 10.20 and a beta of 1.45.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 10.33%. The ex-dividend date of this dividend was Tuesday, August 6th.
Separately, B. Riley assumed coverage on Cypress Energy Partners in a research note on Thursday. They issued a “buy” rating and a $11.00 price objective for the company.
Cypress Energy Partners Company Profile
Cypress Energy Partners, L.P. provides pipeline inspection and integrity, and water and environmental services in North America. The company operates in three segments: Pipeline Inspection Services, Pipeline & Process Services, and Water and Environmental Services. The Pipeline Inspection Services segment offers independent inspection services for various facilities and equipment, such as transmission pipelines; oil and natural gas gathering systems; pump, compressor, measurement, and regulation stations; storage facilities and terminals; and gas distribution systems.
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