Clearwater Paper Corporation (NYSE:CLW) Sees Large Drop in Short Interest

Key Points

• Short interest in Clearwater Paper Corporation (NYSE:CLW) decreased by 19.9% in August, totaling 448,000 shares, which represents 2.9% of the stock currently short sold.
• Several analysts downgraded Clearwater Paper’s stock, with Wall Street Zen moving it from a "hold" to a "sell" rating and Royal Bank of Canada lowering the target price from $37.00 to $36.00.
• Clearwater Paper reported an earnings miss with $0.22 EPS for the quarter, significantly below the predicted $0.73 EPS, and revenue fell short of expectations at $391.80 million.

Clearwater Paper Corporation (NYSE:CLW - Get Free Report) was the recipient of a significant decline in short interest in the month of August. As of August 15th, there was short interest totaling 448,000 shares, a decline of 19.9% from the July 31st total of 559,500 shares. Currently, 2.9% of the shares of the stock are sold short. Based on an average trading volume of 214,400 shares, the short-interest ratio is presently 2.1 days. Based on an average trading volume of 214,400 shares, the short-interest ratio is presently 2.1 days. Currently, 2.9% of the shares of the stock are sold short.

Institutional Investors Weigh In On Clearwater Paper

Several large investors have recently modified their holdings of CLW. Tower Research Capital LLC TRC boosted its position in shares of Clearwater Paper by 34.7% during the second quarter. Tower Research Capital LLC TRC now owns 2,185 shares of the basic materials company's stock worth $60,000 after buying an additional 563 shares during the period. Elite Financial Inc. bought a new position in shares of Clearwater Paper during the first quarter worth approximately $74,000. GAMMA Investing LLC increased its stake in Clearwater Paper by 2,384.8% during the 1st quarter. GAMMA Investing LLC now owns 3,603 shares of the basic materials company's stock worth $91,000 after acquiring an additional 3,458 shares during the period. CWM LLC increased its stake in Clearwater Paper by 2,215.1% during the 2nd quarter. CWM LLC now owns 3,380 shares of the basic materials company's stock worth $92,000 after acquiring an additional 3,234 shares during the period. Finally, Summit Securities Group LLC acquired a new stake in shares of Clearwater Paper in the 1st quarter valued at $98,000. 89.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CLW has been the subject of a number of recent analyst reports. Wall Street Zen lowered Clearwater Paper from a "hold" rating to a "sell" rating in a research report on Sunday, September 7th. Royal Bank Of Canada reduced their price target on Clearwater Paper from $37.00 to $36.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $36.00.

Clearwater Paper Price Performance

CLW stock traded down $0.39 during trading on Friday, hitting $21.42. The company had a trading volume of 99,414 shares, compared to its average volume of 171,556. The company has a current ratio of 1.97, a quick ratio of 0.87 and a debt-to-equity ratio of 0.39. The company has a market cap of $344.86 million, a P/E ratio of 1.78 and a beta of 0.12. The company has a fifty day moving average price of $24.46 and a two-hundred day moving average price of $25.79. Clearwater Paper has a fifty-two week low of $20.84 and a fifty-two week high of $33.56.

Clearwater Paper (NYSE:CLW - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The basic materials company reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.51). The business had revenue of $391.80 million during the quarter, compared to analyst estimates of $397.00 million. Clearwater Paper had a negative return on equity of 4.11% and a net margin of 12.98%.

Clearwater Paper Company Profile

Clearwater Paper Corporation manufactures and supplies bleached paperboards, and consumer and parent roll tissues in the United States and internationally. It operates through Pulp and Paperboard, and Consumer Products segments. The Pulp and Paperboard segment manufactures and markets bleached paperboard; Solid Bleached Sulfate paperboard that is used to produce folding cartons, liquid packaging, cups and plates, blister and carded packaging, and top sheet and commercial printing items; and hardwood and softwood pulp, as well as offers services that include custom sheeting, slitting, and cutting.