Trinseo PLC (NYSE:TSE) Short Interest Up 36.7% in May

Trinseo PLC (NYSE:TSE - Get Free Report) was the target of a significant 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 company's shares are short sold. Based on an average daily trading volume, of 344,900 shares, the short-interest ratio is presently 2.4 days.

Hedge Funds Weigh In On Trinseo

A number of large investors have recently made changes to their positions in the business. CastleKnight Management LP grew its position in Trinseo by 128.1% during the 4th quarter. CastleKnight Management LP now owns 2,479,618 shares of the basic materials company's stock worth $12,646,000 after purchasing an additional 1,392,476 shares during the period. Brightline Capital Management LLC purchased a new position in Trinseo in the 4th quarter valued at about $4,820,000. Truffle Hound Capital LLC purchased a new position in Trinseo in the 4th quarter valued at about $1,785,000. Acadian Asset Management LLC lifted its stake in Trinseo by 267.9% in the 1st quarter. Acadian Asset Management LLC now owns 329,306 shares of the basic materials company's stock valued at $1,208,000 after buying an additional 239,793 shares in the last quarter. Finally, 683 Capital Management LLC purchased a new position in Trinseo in the 4th quarter valued at about $636,000. 82.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Trinseo Stock Performance

NYSE:TSE traded up $0.13 during trading hours on Tuesday, reaching $3.15. The company's stock had a trading volume of 284,413 shares, compared to its average volume of 448,843. The company has a market capitalization of $112.15 million, a P/E ratio of -0.32 and a beta of 1.54. Trinseo has a 12 month low of $1.94 and a 12 month high of $7.05. The stock has a 50 day moving average price of $3.28 and a two-hundred day moving average price of $4.16.

Trinseo (NYSE:TSE - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The basic materials company reported ($1.37) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.40) by $0.03. The business had revenue of $784.80 million for the quarter, compared to analyst estimates of $980.01 million. As a group, analysts predict that Trinseo will post -3.88 EPS for the current fiscal year.

Trinseo Company Profile

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.