Chart Industries, Inc. (NYSE:GTLS) Sees Large Increase in Short Interest

Chart Industries, Inc. (NYSE:GTLS) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 6,120,000 shares, a growth of 5.3% from the June 30th total of 5,810,000 shares. Based on an average trading volume of 493,000 shares, the short-interest ratio is currently 12.4 days.

Chart Industries Price Performance

GTLS traded down $7.23 during midday trading on Thursday, reaching $153.85. 551,024 shares of the company’s stock were exchanged, compared to its average volume of 553,162. Chart Industries has a 1-year low of $109.48 and a 1-year high of $184.65. The stock has a market capitalization of $6.58 billion, a PE ratio of 161.08, a P/E/G ratio of 0.46 and a beta of 1.74. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.25 and a quick ratio of 0.95. The business’s 50-day moving average price is $150.28 and its 200 day moving average price is $145.38.

Chart Industries (NYSE:GTLS) last posted its earnings results on Friday, May 3rd. The industrial products company reported $1.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.39). Chart Industries had a net margin of 1.59% and a return on equity of 9.49%. The company had revenue of $950.70 million during the quarter, compared to analysts’ expectations of $970.91 million. During the same period in the previous year, the company posted $1.41 EPS. Chart Industries’s quarterly revenue was up 76.7% compared to the same quarter last year. As a group, equities analysts anticipate that Chart Industries will post 11.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Barclays started coverage on shares of Chart Industries in a research report on Wednesday, May 8th. They issued an “equal weight” rating and a $193.00 price objective on the stock. The Goldman Sachs Group boosted their price target on shares of Chart Industries from $150.00 to $168.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Stifel Nicolaus lowered their price objective on Chart Industries from $224.00 to $220.00 and set a “buy” rating on the stock in a report on Monday, May 6th. Bank of America raised their price target on Chart Industries from $180.00 to $185.00 and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Morgan Stanley assumed coverage on Chart Industries in a report on Thursday, April 18th. They set an “equal weight” rating and a $200.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $195.83.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in Chart Industries during the first quarter worth approximately $30,000. Spire Wealth Management grew its position in shares of Chart Industries by 141.0% in the first quarter. Spire Wealth Management now owns 200 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 117 shares during the period. Rise Advisors LLC increased its stake in Chart Industries by 905.0% in the first quarter. Rise Advisors LLC now owns 201 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 181 shares during the last quarter. Cape Investment Advisory Inc. purchased a new position in Chart Industries during the fourth quarter worth about $33,000. Finally, Byrne Asset Management LLC acquired a new stake in Chart Industries in the 2nd quarter worth about $40,000.

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.