Innospec Inc. (NASDAQ:IOSP) Sees Significant Growth in Short Interest

Key Points

• Innospec Inc. experienced a significant increase in short interest, rising by 35.3% in August to a total of 435,400 shares.
• Hedge funds and institutional investors now hold approximately 96.64% of Innospec's stock, with several firms making substantial changes to their positions in the company.
• The company reported $1.26 earnings per share for the recent quarter, exceeding analysts' expectations, despite revenue being slightly lower than estimates.

Innospec Inc. (NASDAQ:IOSP - Get Free Report) was the target of a significant growth in short interest in August. As of August 15th, there was short interest totaling 435,400 shares, agrowthof35.3% from the July 31st total of 321,800 shares. Based on an average trading volume of 206,600 shares, the short-interest ratio is currently 2.1 days. Currently,1.8% of the shares of the stock are short sold. Currently,1.8% of the shares of the stock are short sold. Based on an average trading volume of 206,600 shares, the short-interest ratio is currently 2.1 days.

Institutional Trading of Innospec

Hedge funds have recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Innospec in the 2nd quarter valued at about $28,000. Tsfg LLC acquired a new stake in Innospec during the 1st quarter worth $35,000. EverSource Wealth Advisors LLC increased its stake in Innospec by 1,159.5% in the second quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company's stock valued at $44,000 after purchasing an additional 487 shares during the period. Blue Trust Inc. increased its stake in Innospec by 38.3% in the second quarter. Blue Trust Inc. now owns 672 shares of the specialty chemicals company's stock valued at $57,000 after purchasing an additional 186 shares during the period. Finally, State of Wyoming boosted its holdings in shares of Innospec by 27.5% in the second quarter. State of Wyoming now owns 801 shares of the specialty chemicals company's stock valued at $67,000 after acquiring an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 96.64% of the company's stock.

Innospec Stock Down 0.6%

Shares of IOSP stock traded down $0.52 during mid-day trading on Monday, hitting $85.20. 244,408 shares of the stock were exchanged, compared to its average volume of 156,043. The company has a market cap of $2.12 billion, a PE ratio of 109.23 and a beta of 1.11. The firm has a fifty day moving average of $84.73 and a 200 day moving average of $88.59. Innospec has a 52-week low of $74.10 and a 52-week high of $128.35.

Innospec (NASDAQ:IOSP - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.17 by $0.09. The firm had revenue of $439.70 million for the quarter, compared to analyst estimates of $440.70 million. Innospec had a net margin of 1.08% and a return on equity of 10.89%. Innospec's quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.39 earnings per share. Equities analysts predict that Innospec will post 6.18 EPS for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Innospec from a "hold" rating to a "buy" rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Strong Buy".

About Innospec

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in additives in diesel, jet, marine, fuel oil and other fuels.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.