Chart Industries, Inc. (NYSE:GTLS) Sees Significant Decline in Short Interest

Chart Industries, Inc. (NYSE:GTLS) was the target of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 8,470,000 shares, a drop of 6.5% from the November 15th total of 9,060,000 shares. Based on an average daily volume of 830,300 shares, the short-interest ratio is presently 10.2 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. National Bank of Canada FI increased its stake in shares of Chart Industries by 328.7% during the third quarter. National Bank of Canada FI now owns 6,757 shares of the industrial products company’s stock valued at $839,000 after acquiring an additional 5,181 shares during the period. SIR Capital Management L.P. boosted its holdings in Chart Industries by 74.7% during the second quarter. SIR Capital Management L.P. now owns 97,342 shares of the industrial products company’s stock worth $14,050,000 after buying an additional 41,626 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in Chart Industries by 248.0% during the third quarter. B. Riley Wealth Advisors Inc. now owns 22,257 shares of the industrial products company’s stock worth $2,744,000 after buying an additional 15,862 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Chart Industries by 2.3% during the third quarter. Fisher Asset Management LLC now owns 592,486 shares of the industrial products company’s stock worth $73,551,000 after buying an additional 13,181 shares in the last quarter. Finally, Premier Fund Managers Ltd bought a new stake in Chart Industries during the third quarter worth approximately $733,000.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Morgan Stanley raised shares of Chart Industries from an “equal weight” rating to an “overweight” rating and set a $175.00 price target on the stock in a research report on Monday, September 16th. The Goldman Sachs Group dropped their price objective on shares of Chart Industries from $168.00 to $144.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Stifel Nicolaus increased their price objective on shares of Chart Industries from $198.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Bank of America dropped their price objective on shares of Chart Industries from $185.00 to $165.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, BTIG Research increased their price objective on shares of Chart Industries from $170.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $181.42.

Chart Industries Stock Performance

Shares of NYSE:GTLS traded down $7.80 during trading hours on Tuesday, hitting $194.55. The stock had a trading volume of 540,866 shares, compared to its average volume of 663,355. The stock’s fifty day simple moving average is $159.49 and its 200 day simple moving average is $142.97. Chart Industries has a 1-year low of $101.60 and a 1-year high of $204.23. The firm has a market capitalization of $8.33 billion, a price-to-earnings ratio of 58.67, a PEG ratio of 1.01 and a beta of 1.86. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.00 and a current ratio of 1.27.

Chart Industries (NYSE:GTLS) last posted its quarterly earnings data on Friday, November 1st. The industrial products company reported $2.18 EPS for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.38). Chart Industries had a net margin of 4.30% and a return on equity of 13.25%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the business earned $1.28 EPS. Chart Industries’s revenue was up 18.3% compared to the same quarter last year. Sell-side analysts anticipate that Chart Industries will post 9.03 earnings per share for the current fiscal year.

Chart Industries Company Profile

Chart Industries, Inc engages in the designing, engineering, and manufacturing of process technologies and equipment for the gas and liquid molecules in the United States and internationally. The company operates in four segments: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products, and Repair, Service & Leasing.