Sappi Ltd. (OTCMKTS:SPPJY) Short Interest Down 63.1% in August

Key Points

• Sappi Ltd. experienced a significant 63.1% decrease in short interest in August, with total short interest falling from 28,200 shares to 10,400 shares.
• The company's stock rose by 2.4%, reaching an opening price of $1.72, and has a market cap of approximately $963.03 million.
• Sappi reported a loss of ($0.04) EPS in its last earnings call, missing analysts' estimates, and received a "strong sell" rating from Zacks Research.

Sappi Ltd. (OTCMKTS:SPPJY - Get Free Report) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 10,400 shares, a drop of 63.1% from the August 15th total of 28,200 shares. Based on an average trading volume of 6,600 shares, the short-interest ratio is presently 1.6 days. Approximately 0.0% of the shares of the company are short sold. Approximately 0.0% of the shares of the company are short sold. Based on an average trading volume of 6,600 shares, the short-interest ratio is presently 1.6 days.

Sappi Stock Up 2.4%

Sappi stock opened at $1.72 on Friday. The stock has a market cap of $963.03 million, a price-to-earnings ratio of 10.12 and a beta of 0.83. The company has a current ratio of 1.24, a quick ratio of 0.62 and a debt-to-equity ratio of 0.63. The company's 50-day moving average price is $1.68 and its two-hundred day moving average price is $1.90. Sappi has a 52 week low of $1.42 and a 52 week high of $3.20.

Sappi (OTCMKTS:SPPJY - Get Free Report) last released its earnings results on Thursday, August 7th. The basic materials company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.07). The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.35 billion. Sappi had a net margin of 1.75% and a return on equity of 6.12%.

Analysts Set New Price Targets

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

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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