Trinseo PLC (NYSE:TSE) Short Interest Up 4,516.7% in July

Key Points

• Short interest in Trinseo PLC soared by 4,516.7% in July, rising to 2,710,000 shares from 58,700 shares at the end of June, indicating a growing bearish sentiment among investors.
• Approximately 82.69% of Trinseo's stock is held by institutional investors, reflecting strong backing from hedge funds and larger financial entities.
• Wall Street analysts have downgraded Trinseo from a "hold" rating to a "sell" rating, reflecting concern about the company's declining performance in the market.

Trinseo PLC (NYSE:TSE - Get Free Report) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 2,710,000 shares, agrowthof4,516.7% from the June 30th total of 58,700 shares. Approximately8.3% of the shares of the stock are sold short. Based on an average trading volume of 406,200 shares, the days-to-cover ratio is presently 6.7 days. Based on an average trading volume of 406,200 shares, the days-to-cover ratio is presently 6.7 days. Approximately8.3% of the shares of the stock are sold short.

Trinseo Trading Up 4.0%

Shares of NYSE:TSE traded up $0.11 during midday trading on Tuesday, reaching $2.74. The company had a trading volume of 112,231 shares, compared to its average volume of 354,807. Trinseo has a 52-week low of $2.16 and a 52-week high of $7.05. The company's 50 day moving average price is $3.10 and its 200 day moving average price is $3.67. The stock has a market cap of $97.50 million, a P/E ratio of -0.28 and a beta of 1.44.

Trinseo (NYSE:TSE - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The basic materials company reported ($1.37) earnings per share for the quarter, beating the consensus estimate of ($1.40) by $0.03. The company had revenue of $784.80 million for the quarter, compared to the consensus estimate of $980.01 million. Research analysts forecast that Trinseo will post -3.88 EPS for the current fiscal year.

Trinseo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Investors of record on Thursday, July 10th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Thursday, July 10th. Trinseo's dividend payout ratio is -0.40%.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Trinseo from a "hold" rating to a "sell" rating in a report on Monday, May 12th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TSE. May Hill Capital LLC purchased a new stake in shares of Trinseo during the second quarter valued at approximately $33,000. Covestor Ltd bought a new position in shares of Trinseo during the fourth quarter valued at $36,000. State of Wyoming bought a new position in shares of Trinseo during the fourth quarter valued at $53,000. BNP Paribas Financial Markets bought a new position in shares of Trinseo during the fourth quarter valued at $74,000. Finally, Quarry LP purchased a new stake in shares of Trinseo during the fourth quarter valued at $79,000. 82.69% of the stock is currently owned by institutional investors.

About Trinseo

Trinseo PLC operates as a specialty material solutions provider in the United States, Europe, the Asia-Pacific, and internationally. It operates through five segments: Engineered Materials, Latex Binders, Plastics Solutions, Polystyrene, and Americas Styrenics. The Engineered Materials segment offers rigid thermoplastic compounds and blends, soft thermoplastic, continuous cast, cell cast, activated methyl methacrylates (MMA), PMMA resins, and extruded PMMA sheets and resins for consumer electronics, medical, footwear, automotive, and building and construction applications under the EMERGE, CALIBRE, PLEXIGLAS, ALTUGLAS, ACRYSPA, AVONITE, STUDIO, MEGOL, APILON, APIGO, and APINAT brands.