Short Interest in Trinseo PLC (NYSE:TSE) Rises By 36.7%

Trinseo PLC (NYSE:TSE - Get Free Report) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 831,000 shares, a growth of 36.7% from the April 30th total of 607,700 shares. Approximately 2.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 344,900 shares, the days-to-cover ratio is currently 2.4 days.

Analysts Set New Price Targets

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

Trinseo Stock Up 2.2%

TSE traded up $0.07 during trading on Thursday, hitting $3.07. The company's stock had a trading volume of 98,404 shares, compared to its average volume of 446,190. The stock has a market capitalization of $109.27 million, a price-to-earnings ratio of -0.31 and a beta of 1.54. Trinseo has a 12 month low of $1.94 and a 12 month high of $7.05. The firm's 50 day moving average price is $3.26 and its two-hundred day moving average price is $4.15.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSE. CastleKnight Management LP grew its stake in Trinseo by 128.1% in the fourth quarter. CastleKnight Management LP now owns 2,479,618 shares of the basic materials company's stock valued at $12,646,000 after acquiring an additional 1,392,476 shares during the period. Brightline Capital Management LLC acquired a new position in Trinseo in the fourth quarter valued at about $4,820,000. Truffle Hound Capital LLC acquired a new position in Trinseo in the fourth quarter valued at about $1,785,000. Acadian Asset Management LLC grew its stake in Trinseo by 267.9% in the first quarter. Acadian Asset Management LLC now owns 329,306 shares of the basic materials company's stock valued at $1,208,000 after acquiring an additional 239,793 shares during the period. Finally, 683 Capital Management LLC acquired a new position in Trinseo in the fourth quarter valued at about $636,000. 82.69% of the stock is owned by institutional investors and hedge funds.

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.