Celanese Co. (NYSE:CE) Short Interest Up 22.8% in January

Celanese Co. (NYSE:CEGet Free Report) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 6,310,000 shares, an increase of 22.8% from the December 31st total of 5,140,000 shares. Currently, 5.8% of the shares of the company are sold short. Based on an average trading volume of 2,360,000 shares, the days-to-cover ratio is currently 2.7 days.

Celanese Stock Down 1.6 %

Shares of CE stock opened at $70.99 on Friday. Celanese has a 1 year low of $64.05 and a 1 year high of $172.16. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.76 and a current ratio of 1.37. The business’s fifty day moving average is $70.15 and its 200-day moving average is $104.51. The stock has a market cap of $7.76 billion, a PE ratio of 7.14, a price-to-earnings-growth ratio of 1.42 and a beta of 1.18.

Celanese (NYSE:CEGet Free Report) last released its earnings results on Monday, November 4th. The basic materials company reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.41). Celanese had a return on equity of 13.17% and a net margin of 10.40%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same period in the previous year, the firm earned $2.50 earnings per share. Celanese’s revenue was down 2.8% on a year-over-year basis. Equities analysts expect that Celanese will post 8.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CE has been the subject of several recent research reports. KeyCorp lowered Celanese from an “overweight” rating to a “sector weight” rating in a report on Monday, October 7th. Vertical Research downgraded Celanese from a “hold” rating to a “sell” rating and set a $130.00 price objective for the company. in a research note on Tuesday, October 29th. Piper Sandler cut their target price on Celanese from $98.00 to $77.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Celanese from a “hold” rating to a “buy” rating and lowered their price target for the stock from $135.00 to $110.00 in a research report on Wednesday, November 6th. Finally, UBS Group downgraded shares of Celanese from a “buy” rating to a “neutral” rating and cut their price objective for the company from $161.00 to $97.00 in a research report on Monday, November 11th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Celanese has a consensus rating of “Hold” and a consensus target price of $102.82.

Check Out Our Latest Report on Celanese

Institutional Trading of Celanese

Several institutional investors and hedge funds have recently added to or reduced their stakes in CE. DT Investment Partners LLC boosted its holdings in Celanese by 128.8% in the 3rd quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 103 shares during the period. First Trust Direct Indexing L.P. raised its position in shares of Celanese by 5.2% during the third quarter. First Trust Direct Indexing L.P. now owns 2,265 shares of the basic materials company’s stock valued at $308,000 after buying an additional 111 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its stake in shares of Celanese by 0.7% in the third quarter. Ashton Thomas Private Wealth LLC now owns 21,730 shares of the basic materials company’s stock valued at $2,954,000 after buying an additional 145 shares during the period. Neumann Capital Management LLC increased its stake in Celanese by 5.3% during the third quarter. Neumann Capital Management LLC now owns 3,000 shares of the basic materials company’s stock valued at $408,000 after acquiring an additional 150 shares during the period. Finally, Freedom Investment Management Inc. raised its holdings in Celanese by 3.2% in the 3rd quarter. Freedom Investment Management Inc. now owns 5,259 shares of the basic materials company’s stock valued at $715,000 after acquiring an additional 161 shares in the last quarter. 98.87% of the stock is owned by institutional investors and hedge funds.

Celanese Company Profile

(Get Free Report)

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials and Acetyl Chain. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.

Further Reading

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