Brenntag AG (OTCMKTS:BNTGY) Shares Shorted: Short Interest Up 313.7% in September

Key Points

• Brenntag’s short interest surged 313.7% from 2,751 shares on September 15 to 11,381 shares on September 30, though short interest still represented 0.0% of shares outstanding and only 0.3 days of average trading volume.
• The company reported quarterly EPS of $0.29, exceeding analyst estimates of $0.25, while revenue of $4.96 billion also topped the $4.66 billion consensus forecast.
• Analyst sentiment remains cautious: eight analysts rate the stock Hold and one rates it Sell, producing a consensus “Reduce” rating and a $12.80 price target versus a recent share price of $13.88.

Brenntag AG (OTCMKTS:BNTGY - Get Free Report) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 11,381 shares, a growth of 313.7% from the September 15th total of 2,751 shares. Currently, 0.0% of the company's shares are short sold. Based on an average daily trading volume, of 37,746 shares, the short-interest ratio is presently 0.3 days.

Brenntag Stock Up 0.9%

Shares of Brenntag stock opened at $13.88 on Friday. The business has a 50-day moving average price of $13.98 and a 200 day moving average price of $13.56. Brenntag has a fifty-two week low of $10.19 and a fifty-two week high of $14.97. The firm has a market cap of $10.02 billion, a P/E ratio of 23.53 and a beta of 0.62.

Brenntag (OTCMKTS:BNTGY - Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported $0.29 EPS for the quarter, topping analysts' consensus estimates 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. Brenntag had a return on equity of 8.30% and a net margin of 2.41%. As a group, equities research analysts anticipate that Brenntag will post 0.85 earnings per share for the current year.

Wall Street Analyst Weigh In

BNTGY has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft cut Brenntag from a "buy" rating to a "hold" rating in a report on Tuesday, June 16th. Morgan Stanley reaffirmed an "underweight" rating on shares of Brenntag in a research note on Friday, August 14th. Finally, DZ Bank upgraded Brenntag from a "strong sell" rating to a "hold" rating in a report on Monday, July 27th. Eight equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $12.80.

Brenntag Company Profile

Brenntag SE is a Germany-based global distributor of chemicals and ingredients. The company connects chemical manufacturers with industrial and commercial customers, supplying a broad portfolio of basic and specialty chemicals as well as related products and services.

Its activities include sourcing, storage, blending, formulation, packaging and delivery, along with technical support and other supply-chain services. Brenntag serves customers across industries such as manufacturing, water treatment, food and nutrition, pharmaceuticals, personal care, agriculture, energy and environmental services.

Founded in 1874 in Berlin, Brenntag has expanded into an international organization serving markets across Europe, North America, Latin America and the Asia-Pacific region.

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