Casella Waste Systems, Inc. (NASDAQ:CWST) Short Interest Update

Key Points

• Casella Waste Systems saw a 21.7% increase in short interest in August, with a total of 2,520,000 shares currently sold short, indicating growing investor skepticism.
• The company reported quarterly earnings of $0.36 EPS, surpassing analyst expectations and achieving a 23.4% increase in year-over-year revenue, totaling $465.33 million.
• Institutional investors dominate the company’s stock ownership, holding 99.51% of the shares, with significant increases in holdings by firms such as Alliancebernstein L.P. and Bank of New York Mellon Corp.

Casella Waste Systems, Inc. (NASDAQ:CWST - Get Free Report) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 2,520,000 shares, a growth of 21.7% from the August 15th total of 2,070,000 shares. Currently, 4.1% of the shares of the stock are short sold. Based on an average trading volume of 476,000 shares, the days-to-cover ratio is currently 5.3 days. Based on an average trading volume of 476,000 shares, the days-to-cover ratio is currently 5.3 days. Currently, 4.1% of the shares of the stock are short sold.

Institutional Trading of Casella Waste Systems

Institutional investors have recently modified their holdings of the company. Ameritas Advisory Services LLC purchased a new stake in shares of Casella Waste Systems during the 2nd quarter worth about $25,000. Maseco LLP acquired a new position in shares of Casella Waste Systems during the second quarter worth about $25,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Casella Waste Systems by 325.5% during the second quarter. Caitong International Asset Management Co. Ltd now owns 217 shares of the industrial products company's stock worth $25,000 after purchasing an additional 166 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Casella Waste Systems by 301.6% during the first quarter. Geneos Wealth Management Inc. now owns 245 shares of the industrial products company's stock worth $27,000 after purchasing an additional 184 shares in the last quarter. Finally, NBC Securities Inc. acquired a new position in shares of Casella Waste Systems during the first quarter worth about $31,000. Hedge funds and other institutional investors own 99.51% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Cowen reissued a "buy" rating on shares of Casella Waste Systems in a research note on Friday, June 6th. Loop Capital raised Casella Waste Systems from a "hold" rating to a "buy" rating and set a $88.00 price target for the company in a research report on Friday. Raymond James Financial set a $125.00 price target on Casella Waste Systems and gave the stock a "strong-buy" rating in a research report on Monday, August 4th. William Blair reaffirmed an "outperform" rating on shares of Casella Waste Systems in a research note on Tuesday, July 15th. Finally, Barclays assumed coverage on Casella Waste Systems in a research note on Friday. They set an "underweight" rating and a $88.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $114.38.

Casella Waste Systems Trading Up 2.6%

NASDAQ:CWST traded up $2.23 during trading hours on Monday, reaching $88.92. 827,764 shares of the company were exchanged, compared to its average volume of 465,393. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.70 and a quick ratio of 1.61. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 494.00 and a beta of 0.84. Casella Waste Systems has a 52-week low of $85.21 and a 52-week high of $121.24. The stock has a 50 day simple moving average of $100.19 and a 200 day simple moving average of $109.22.

Casella Waste Systems (NASDAQ:CWST - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The industrial products company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.05. The company had revenue of $465.33 million for the quarter, compared to the consensus estimate of $454.01 million. Casella Waste Systems had a net margin of 0.64% and a return on equity of 4.97%. Casella Waste Systems's revenue was up 23.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 earnings per share. Casella Waste Systems has set its FY 2025 guidance at EPS. As a group, analysts predict that Casella Waste Systems will post 1.16 EPS for the current year.

About Casella Waste Systems

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the United States. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, institutional, and industrial customers.