Capital Clean Energy Carriers (NASDAQ:CCEC) Shares Gap Down - Here's What Happened

Key Points

• Pre-market gap down: CCEC opened at $20.25 after a $21.64 close and last traded around $20.9450 on very light volume (617 shares).
• Mixed analyst signals: Jefferies started coverage with a Hold and $20 target, Weiss reaffirmed Hold, Zacks cut to Strong Sell, and the consensus rating is Hold with an average target of $24.
• Key fundamentals and ownership moves: The company has a $1.19B market cap, P/E of 7.12, current and quick ratios of 0.86, D/E of 1.37, and several institutional investors recently adjusted their positions.

Shares of Capital Clean Energy Carriers Corp. (NASDAQ:CCEC - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $21.64, but opened at $20.25. Capital Clean Energy Carriers shares last traded at $20.9450, with a volume of 617 shares.

Analyst Ratings Changes

CCEC has been the topic of several recent analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Capital Clean Energy Carriers in a report on Wednesday. Zacks Research lowered Capital Clean Energy Carriers from a "hold" rating to a "strong sell" rating in a report on Thursday, March 26th. Finally, Jefferies Financial Group assumed coverage on Capital Clean Energy Carriers in a report on Friday. They set a "hold" rating and a $20.00 target price on the stock. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $24.00.

Capital Clean Energy Carriers Price Performance

The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. The company has a 50 day simple moving average of $20.82 and a 200-day simple moving average of $20.96. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 7.12 and a beta of 0.68.

Institutional Trading of Capital Clean Energy Carriers

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Capital Clean Energy Carriers by 9.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 143,204 shares of the company's stock valued at $3,224,000 after acquiring an additional 12,097 shares during the last quarter. Millennium Management LLC increased its position in shares of Capital Clean Energy Carriers by 2.5% in the fourth quarter. Millennium Management LLC now owns 26,543 shares of the company's stock valued at $547,000 after acquiring an additional 651 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Capital Clean Energy Carriers by 10.1% in the second quarter. Geode Capital Management LLC now owns 17,702 shares of the company's stock valued at $414,000 after acquiring an additional 1,621 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Capital Clean Energy Carriers in the third quarter valued at about $382,000. Finally, MGO One Seven LLC increased its position in shares of Capital Clean Energy Carriers by 11.8% in the third quarter. MGO One Seven LLC now owns 10,318 shares of the company's stock valued at $232,000 after acquiring an additional 1,087 shares during the last quarter.

About Capital Clean Energy Carriers

Capital Clean Energy Carriers Corp., a shipping company, provides marine transportation services in Greece. The company's vessels provide a range of cargoes, including liquefied natural gas, containerized goods, and cargo under short-term voyage charters, and medium to long-term time charters. It owns vessels, including Neo-Panamax container vessels, Panamax container vessels, cape-size bulk carrier, and LNG carriers. In addition, the company produces and distributes oil and natural gas, including biofuels, motor oil, lubricants, petrol, crudes, liquefied natural gas, marine fuels, natural gas liquids, and petrochemicals.

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