Companhia Paranaense de Energia (NYSE:ELP) Short Interest Up 9.2% in July

Companhia Paranaense de Energia (NYSE:ELP) was the target of a large increase in short interest in July. As of July 15th, there was short interest totalling 4,270,000 shares, an increase of 9.2% from the June 30th total of 3,910,000 shares. Based on an average daily volume of 643,800 shares, the days-to-cover ratio is presently 6.6 days. Approximately 3.3% of the shares of the stock are sold short.

Several equities analysts have issued reports on ELP shares. ValuEngine cut shares of Companhia Paranaense de Energia from a “sell” rating to a “strong sell” rating in a research report on Friday, May 1st. Zacks Investment Research lowered shares of Companhia Paranaense de Energia from a “buy” rating to a “hold” rating in a research note on Wednesday, July 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Companhia Paranaense de Energia presently has a consensus rating of “Hold” and a consensus price target of $16.00.

Shares of Companhia Paranaense de Energia stock traded down $0.35 during trading hours on Tuesday, reaching $11.53. The company’s stock had a trading volume of 20,767 shares, compared to its average volume of 578,903. Companhia Paranaense de Energia has a one year low of $8.28 and a one year high of $18.15. The company has a market capitalization of $3.21 billion, a P/E ratio of 6.46 and a beta of 0.81. The stock’s fifty day simple moving average is $11.87 and its two-hundred day simple moving average is $12.80. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 1.53.

Companhia Paranaense de Energia (NYSE:ELP) last released its quarterly earnings data on Friday, May 15th. The utilities provider reported $0.42 earnings per share for the quarter. The firm had revenue of $938.12 million for the quarter. Companhia Paranaense de Energia had a net margin of 12.14% and a return on equity of 10.14%. As a group, research analysts forecast that Companhia Paranaense de Energia will post 1.06 earnings per share for the current year.

A number of large investors have recently modified their holdings of ELP. UBS Group AG boosted its position in shares of Companhia Paranaense de Energia by 242.6% in the fourth quarter. UBS Group AG now owns 1,576 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 1,116 shares during the period. CWM LLC increased its position in Companhia Paranaense de Energia by 234.3% during the 2nd quarter. CWM LLC now owns 2,210 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 1,549 shares during the period. Signaturefd LLC boosted its holdings in shares of Companhia Paranaense de Energia by 140.1% during the 2nd quarter. Signaturefd LLC now owns 2,891 shares of the utilities provider’s stock valued at $33,000 after buying an additional 1,687 shares in the last quarter. Marshall Wace LLP bought a new position in Companhia Paranaense de Energia in the 4th quarter worth about $76,000. Finally, Royal Bank of Canada raised its position in Companhia Paranaense de Energia by 61.2% in the 1st quarter. Royal Bank of Canada now owns 7,277 shares of the utilities provider’s stock worth $75,000 after buying an additional 2,762 shares during the last quarter. Hedge funds and other institutional investors own 0.40% of the company’s stock.

About Companhia Paranaense de Energia

Companhia Paranaense de Energia – COPEL engages in the generation, transmission, distribution, and sale of electricity to industrial, residential, commercial, rural, and other customers primarily in the State of Paraná, Brazil. As of December 31, 2017, the company operated 17 hydroelectric plants, 12 wind plants, and 1 thermoelectric plant with a total installed capacity of 5,024.0 megawatts; and owned and operated 2,698.3 kilometers of transmission lines and 196,951.2 kilometers of distribution lines.

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