Chart Industries (NYSE:GTLS) Sees Unusually-High Trading Volume - What's Next?

Key Points

• Chart Industries experienced a significant trading volume increase of 133%, with approximately 2.1 million shares trading hands on a recent Wednesday.
• A consensus rating of "Moderate Buy" has emerged among analysts, with an average target price of $201.38 for the stock.
• The company's latest quarterly earnings reported an EPS of $2.59, falling short of expectations by $0.03, alongside revenues of $1.08 billion.

Shares of Chart Industries, Inc. (NYSE:GTLS - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 2,145,725 shares were traded during trading, an increase of 133% from the previous session's volume of 919,029 shares.The stock last traded at $199.25 and had previously closed at $198.80.

Analyst Ratings Changes

GTLS has been the subject of several research reports. Morgan Stanley lowered their price objective on shares of Chart Industries from $250.00 to $225.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Lake Street Capital downgraded shares of Chart Industries from a "strong-buy" rating to a "hold" rating and set a $210.00 price objective for the company. in a research report on Wednesday. Johnson Rice downgraded shares of Chart Industries from a "strong-buy" rating to a "hold" rating and set a $210.00 price objective for the company. in a research report on Wednesday. Hsbc Global Res raised shares of Chart Industries to a "hold" rating in a research report on Wednesday. Finally, Raymond James Financial reissued a "market perform" rating on shares of Chart Industries in a research report on Wednesday. Eleven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $202.00.

Chart Industries Trading Down 0.0%

The stock has a market cap of $8.93 billion, a price-to-earnings ratio of 36.94, a PEG ratio of 0.78 and a beta of 1.59. The company has a quick ratio of 1.21, a current ratio of 1.55 and a debt-to-equity ratio of 1.04. The business's 50 day simple moving average is $162.50 and its 200 day simple moving average is $163.91.

Chart Industries (NYSE:GTLS - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $2.59 EPS for the quarter, missing analysts' consensus estimates of $2.62 by ($0.03). The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.11 billion. Chart Industries had a net margin of 6.29% and a return on equity of 13.71%. On average, research analysts expect that Chart Industries, Inc. will post 9.02 EPS for the current fiscal year.

Institutional Trading of Chart Industries

A number of hedge funds have recently modified their holdings of the stock. New York Life Investment Management LLC lifted its stake in shares of Chart Industries by 4.3% during the 2nd quarter. New York Life Investment Management LLC now owns 4,776 shares of the industrial products company's stock worth $786,000 after buying an additional 195 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Chart Industries by 66.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 12,099 shares of the industrial products company's stock worth $1,992,000 after buying an additional 4,846 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its stake in shares of Chart Industries by 126.7% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 12,968 shares of the industrial products company's stock worth $2,135,000 after buying an additional 7,247 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of Chart Industries by 93.0% during the 2nd quarter. Bessemer Group Inc. now owns 193 shares of the industrial products company's stock worth $32,000 after buying an additional 93 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Chart Industries by 2.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 58,916 shares of the industrial products company's stock worth $9,701,000 after buying an additional 1,299 shares during the last quarter.

Chart Industries Company Profile

Chart Industries, Inc engages in the designing, engineering, and manufacturing of process technologies and equipment for the gas and liquid molecules in the United States and internationally. The company operates in four segments: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products, and Repair, Service & Leasing.