Brenntag AG (OTCMKTS:BNTGY) Sees Significant Growth in Short Interest

Key Points

• Short interest surged 336.4% to 49,671 shares as of October 15, up from 11,381 shares two weeks earlier. Despite the increase, short interest represents 0.0% of shares outstanding, with a days-to-cover ratio of 1.1.
• Brenntag reported quarterly earnings of $0.29 per share, exceeding analyst expectations of $0.25, while revenue of $4.96 billion also topped the $4.66 billion consensus estimate.
• Analyst sentiment remains cautious: six analysts rate the stock Hold and one rates it Sell, resulting in an overall “Reduce” rating. Shares opened at $13.95, near their 52-week high of $14.97.

Brenntag AG (OTCMKTS:BNTGY - Get Free Report) was the target of a large growth in short interest in October. As of October 15th, there was short interest totaling 49,671 shares, a growth of 336.4% from the September 30th total of 11,381 shares. Based on an average daily volume of 45,147 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.0% of the shares of the stock are short sold.

Brenntag Stock Performance

Shares of BNTGY opened at $13.95 on Wednesday. The firm has a market cap of $10.07 billion, a PE ratio of 23.65 and a beta of 0.62. The firm's 50 day moving average price is $13.93 and its 200 day moving average price is $13.22. Brenntag has a twelve month low of $10.19 and a twelve month high of $14.97.

Brenntag (OTCMKTS:BNTGY - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. The company had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.66 billion. On average, sell-side analysts anticipate that Brenntag will post 0.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

BNTGY has been the subject of several analyst reports. Morgan Stanley reaffirmed an "underweight" rating on shares of Brenntag in a report on Friday, August 14th. DZ Bank upgraded Brenntag from a "strong sell" rating to a "hold" rating in a report on Monday, July 27th. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce".

Brenntag Company Profile

Brenntag SE is a Germany-based global distributor of chemicals and related ingredients. The company supplies a broad portfolio of industrial and specialty chemicals to customers in industries such as water treatment, agriculture, food and nutrition, pharmaceuticals, personal care, coatings, and energy.

In addition to sourcing and distributing chemical products, Brenntag provides services that support customers and suppliers throughout the supply chain. These services include storage, transportation, blending and mixing, formulation, packaging, technical support, regulatory assistance, and other customized supply-chain solutions.

Founded in Berlin in 1874, Brenntag has developed into an international chemical distribution business serving customers across Europe, North and Latin America, Asia-Pacific, and other global markets.

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