OCI Partners LP (NYSE:OCIP) Short Interest Down 99.9% in January

OCI Partners LP (NYSE:OCIP) was the recipient of a large drop in short interest in the month of January. As of January 12th, there was short interest totalling 2,965 shares, a drop of 99.9% from the December 29th total of 5,198,927 shares. Based on an average daily trading volume, of 24,489 shares, the days-to-cover ratio is presently 0.1 days.

A number of research analysts have recently issued reports on the stock. BidaskClub upgraded shares of OCI Partners from a “strong sell” rating to a “sell” rating in a research report on Saturday, November 11th. Citigroup upgraded shares of OCI Partners from a “sell” rating to a “neutral” rating in a research note on Friday, January 5th.

Shares of OCI Partners (NYSE OCIP) opened at $9.10 on Monday. The firm has a market cap of $791.68, a price-to-earnings ratio of -129.98 and a beta of 1.35. The company has a debt-to-equity ratio of 3.15, a current ratio of 0.78 and a quick ratio of 0.60. OCI Partners has a one year low of $6.76 and a one year high of $10.35.

In other news, Director Nassef Sawiris purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were purchased at an average price of $7.12 per share, for a total transaction of $35,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ocip Holding Llc purchased 7,276,549 shares of the company’s stock in a transaction dated Tuesday, December 26th. The stock was purchased at an average price of $8.40 per share, for a total transaction of $61,123,011.60. Following the transaction, the director now directly owns 76,774,139 shares in the company, valued at approximately $644,902,767.60. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 7,292,749 shares of company stock worth $61,238,804.

Hedge funds have recently made changes to their positions in the business. Cowen Inc. grew its stake in shares of OCI Partners by 51.7% in the 4th quarter. Cowen Inc. now owns 402,162 shares of the basic materials company’s stock worth $3,237,000 after acquiring an additional 137,057 shares in the last quarter. Citadel Advisors LLC bought a new stake in shares of OCI Partners in the 3rd quarter worth $269,000. Quinn Opportunity Partners LLC grew its stake in shares of OCI Partners by 28.2% in the 4th quarter. Quinn Opportunity Partners LLC now owns 69,235 shares of the basic materials company’s stock worth $557,000 after acquiring an additional 15,250 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new stake in shares of OCI Partners in the 4th quarter worth $113,000. Institutional investors and hedge funds own 15.04% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “OCI Partners LP (NYSE:OCIP) Short Interest Down 99.9% in January” was originally posted by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this story on another website, it was illegally stolen and republished in violation of US and international copyright laws. The legal version of this story can be accessed at https://stocknewstimes.com/2018/02/19/short-interest-in-oci-partners-lp-ocip-decreases-by-99-9.html.

OCI Partners Company Profile

OCI Partners LP owns and operates an integrated methanol and ammonia production facility that is located on the Texas Gulf Coast near Beaumont. The Company has an annual methanol production capacity of approximately 912,500 metric tons and an annual ammonia production capacity of approximately 331,000 metric tons.

Receive News & Ratings for OCI Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OCI Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply