Chart Industries (NYSE:GTLS) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Chart Industries experienced a significant increase in trading volume, with over 1.58 million shares traded on Monday, up 26% from the previous session.
• Analysts have downgraded the stock from "buy" to "hold," with a consensus target price of $202.00 and a current market price of $198.69.
• The company reported $2.59 EPS for the last quarter, missing estimates by $0.03, and had a revenue of $1.08 billion, below expectations of $1.11 billion.

Chart Industries, Inc. (NYSE:GTLS - Get Free Report) saw strong trading volume on Monday . 1,580,518 shares changed hands during mid-day trading, an increase of 26% from the previous session's volume of 1,255,575 shares.The stock last traded at $198.69 and had previously closed at $198.65.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. UBS Group restated a "neutral" rating and set a $210.00 price objective (down previously from $225.00) on shares of Chart Industries in a research report on Wednesday, July 30th. Cowen downgraded shares of Chart Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, July 30th. TD Cowen downgraded shares of Chart Industries from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. Seaport Res Ptn downgraded shares of Chart Industries from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Finally, 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, July 30th. Twelve investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $202.00.

Chart Industries Trading Up 0.0%

The firm has a 50-day moving average of $166.43 and a 200 day moving average of $162.96. The company has a current ratio of 1.55, a quick ratio of 1.27 and a debt-to-equity ratio of 1.04. The company has a market cap of $8.93 billion, a P/E ratio of 36.93, a price-to-earnings-growth ratio of 1.15 and a beta of 1.59.

Chart Industries (NYSE:GTLS - Get Free Report) last issued 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 business had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.11 billion. Chart Industries had a net margin of 6.29% and a return on equity of 13.71%. On average, analysts predict that Chart Industries, Inc. will post 9.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. boosted its position in Chart Industries by 53.1% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 87,490 shares of the industrial products company's stock valued at $14,405,000 after acquiring an additional 30,361 shares in the last quarter. Mint Tower Capital Management B.V. bought a new stake in shares of Chart Industries in the 2nd quarter worth approximately $3,423,000. Itau Unibanco Holding S.A. boosted its position in shares of Chart Industries by 14.1% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 641 shares of the industrial products company's stock worth $106,000 after purchasing an additional 79 shares in the last quarter. Citizens Financial Group Inc. RI bought a new stake in shares of Chart Industries in the 2nd quarter worth approximately $326,000. Finally, Hedeker Wealth LLC boosted its position in shares of Chart Industries by 7.6% in the 2nd quarter. Hedeker Wealth LLC now owns 16,114 shares of the industrial products company's stock worth $2,653,000 after purchasing an additional 1,139 shares in 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.

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