Sappi Ltd. (OTCMKTS:SPPJY) Sees Significant Growth in Short Interest

Key Points

• Sappi Ltd. experienced a significant increase in short interest, rising by 182.0% from July to August, totaling 28,200 shares as of August 15th.
• Analysts at Zacks Research have downgraded Sappi's stock to a "strong sell" rating, with a consensus rating of "Sell."
• Sappi reported a net loss of ($0.04) earnings per share for the quarter ending August 7th, missing consensus estimates and generating $1.32 billion in revenue.

Sappi Ltd. (OTCMKTS:SPPJY - Get Free Report) was the target of a large growth in short interest in August. As of August 15th, there was short interest totaling 28,200 shares, agrowthof182.0% from the July 31st total of 10,000 shares. Based on an average daily volume of 7,800 shares, the days-to-cover ratio is presently 3.6 days. Based on an average daily volume of 7,800 shares, the days-to-cover ratio is presently 3.6 days.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of Sappi to a "strong sell" rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Sappi has a consensus rating of "Sell".

Sappi Stock Down 2.6%

Shares of OTCMKTS:SPPJY traded down $0.05 during mid-day trading on Thursday, reaching $1.68. 600 shares of the stock were exchanged, compared to its average volume of 5,583. The company has a quick ratio of 0.68, a current ratio of 1.38 and a debt-to-equity ratio of 0.60. The stock's 50 day simple moving average is $1.70 and its 200-day simple moving average is $1.94. The company has a market cap of $940.63 million, a P/E ratio of 9.88 and a beta of 0.83. Sappi has a one year low of $1.42 and a one year high of $3.20.

Sappi (OTCMKTS:SPPJY - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The basic materials company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.07). The company had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.35 billion. Sappi had a net margin of 1.75% and a return on equity of 6.09%.

Sappi Company Profile

Sappi Limited, together with its subsidiaries, engages in the provision of materials made from woodfiber-based renewable resources in Europe, North America, and South Africa. The company manufacture and sells dissolving pulp, and wood and paper pulp; graphic papers, coated and uncoated papers, and casting and release papers; and packaging and specialty papers, including packaging and specialty papers, including flexible packaging papers, label papers, functional paper packaging products, containerboards, paperboards, silicone base papers, and dye sublimation papers.

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