Central Puerto (NYSE:CEPU) Shares Gap Down - Here's What Happened

Key Points

• Central Puerto shares fell sharply: CEPU opened at $12.07 versus a prior close of $13.18 and last traded near $12.17, down about 6.9%. The stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is moderately positive but mixed: Bank of America maintained a Buy rating while lowering its price target to $28, and Wall Street Zen downgraded the stock to Hold. The consensus rating is “Moderate Buy,” with a target price of $22.75.
• Institutional interest increased: Several investment firms initiated or expanded positions, though hedge funds and other institutions collectively own only 2.97% of the company. Central Puerto operates thermal, hydroelectric, and renewable power-generation assets in Argentina.

Central Puerto S.A. Sponsored ADR (NYSE:CEPU - Get Free Report)'s share price gapped down prior to trading on Monday. The stock had previously closed at $13.18, but opened at $12.07. Central Puerto shares last traded at $12.1740, with a volume of 15,008 shares traded.

Wall Street Analysts Forecast Growth

CEPU has been the subject of several recent analyst reports. Bank of America dropped their target price on Central Puerto from $29.00 to $28.00 and set a "buy" rating for the company in a research report on Thursday, September 17th. Weiss Ratings reiterated a "hold (c)" rating on shares of Central Puerto in a report on Wednesday, August 26th. Finally, Wall Street Zen lowered Central Puerto from a "buy" rating to a "hold" rating in a research note on Saturday, September 19th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $22.75.

Central Puerto Stock Down 6.9%

The company's fifty day simple moving average is $13.94 and its 200-day simple moving average is $14.73. The firm has a market capitalization of $1.86 billion, a PE ratio of 4.09 and a beta of 0.81. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.28 and a quick ratio of 1.19.

Institutional Investors Weigh In On Central Puerto

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CEPU. SPX Gestao de Recursos Ltda purchased a new stake in shares of Central Puerto during the first quarter valued at $6,084,000. Absolute Gestao de Investimentos Ltda. purchased a new position in Central Puerto in the 1st quarter worth $4,814,000. Bank of America Corp DE lifted its position in Central Puerto by 285.7% during the 1st quarter. Bank of America Corp DE now owns 132,818 shares of the company's stock worth $2,235,000 after acquiring an additional 98,380 shares during the period. Walleye Capital LLC acquired a new stake in Central Puerto during the 1st quarter worth about $1,349,000. Finally, Banco BTG Pactual S.A. purchased a new stake in Central Puerto during the 4th quarter valued at about $476,000. 2.97% of the stock is currently owned by hedge funds and other institutional investors.

Central Puerto Company Profile

Central Puerto SA is an Argentina-based electric power generation company whose American depositary shares trade on the New York Stock Exchange under the symbol CEPU. The company develops, owns, and operates power-generation facilities that supply electricity to Argentina's interconnected power system.

Its generation portfolio includes thermal power plants, which primarily use natural gas and other fuels, as well as hydroelectric and renewable-energy assets. Central Puerto also develops and invests in new generation projects, including wind and solar facilities, to support the diversification of Argentina's electricity supply.

Central Puerto was established in 1989 during the privatization and restructuring of Argentina's electricity sector.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.