Central Puerto (NYSE:CEPU) Shares Gap Up - Time to Buy?

Key Points

• Central Puerto shares gapped up to $8.33 at market opening after closing at $7.68, with a last trading price of $8.55 and a trading volume of 301,642 shares.
• Analysts have upgraded Central Puerto from a "buy" to a "strong-buy" rating, indicating increased confidence in the stock's performance.
• The company reported earnings of $0.48 per share and a net margin of 21.30% for the last quarter, with expectations of $0.63 EPS for the current fiscal year.

Shares of Central Puerto S.A. Sponsored ADR (NYSE:CEPU - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $7.68, but opened at $8.33. Central Puerto shares last traded at $8.55, with a volume of 301,642 shares traded.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Central Puerto from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 3rd.

Central Puerto Trading Up 13.7%

The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.20 and a current ratio of 1.31. The company has a 50 day simple moving average of $10.92 and a two-hundred day simple moving average of $11.47. The firm has a market cap of $1.32 billion, a PE ratio of 8.99 and a beta of 1.16.

Central Puerto (NYSE:CEPU - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported $0.48 EPS for the quarter. The firm had revenue of $179.60 million for the quarter. Central Puerto had a return on equity of 11.81% and a net margin of 21.30%. Analysts expect that Central Puerto S.A. Sponsored ADR will post 0.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CEPU. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Central Puerto by 14.8% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,782,883 shares of the company's stock worth $32,504,000 after acquiring an additional 359,121 shares in the last quarter. Banco BTG Pactual S.A. acquired a new position in shares of Central Puerto during the 1st quarter worth about $1,996,000. Fourth Sail Capital LP acquired a new position in shares of Central Puerto during the 2nd quarter worth about $1,736,000. Jump Financial LLC acquired a new position in shares of Central Puerto during the 2nd quarter worth about $1,149,000. Finally, GAMMA Investing LLC boosted its position in shares of Central Puerto by 863.3% during the 1st quarter. GAMMA Investing LLC now owns 95,773 shares of the company's stock worth $1,062,000 after acquiring an additional 85,831 shares in the last quarter. 2.97% of the stock is owned by institutional investors and hedge funds.

About Central Puerto

Central Puerto SA engages in the electric power generation in Argentina. It operates through three segments: Electric Power Generation from Conventional Sources, Electric Power Generation from Renewable Sources, and Natural Gas Transport and Distribution. The company generates energy through thermal, hydroelectric, and wind farms.

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