Chart Industries, Inc. (NYSE:GTLS) Short Interest Up 5.9% in May

Posted by Defense World Staff on Jun 1st, 2023

Chart Industries, Inc. (NYSE:GTLS – Get Rating) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 6,610,000 shares, a growth of 5.9% from the April 30th total of 6,240,000 shares. Based on an average trading volume of 752,100 shares, the short-interest ratio is presently 8.8 days.

Chart Industries Stock Performance

Shares of GTLS stock opened at $109.67 on Thursday. The business has a 50-day moving average price of $120.15 and a two-hundred day moving average price of $122.81. Chart Industries has a 12-month low of $101.44 and a 12-month high of $242.59. The company has a quick ratio of 0.90, a current ratio of 1.25 and a debt-to-equity ratio of 1.50.

Chart Industries (NYSE:GTLS – Get Rating) last released its earnings results on Friday, April 28th. The industrial products company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $1.05. Chart Industries had a positive return on equity of 9.07% and a negative net margin of 0.14%. The company had revenue of $537.90 million during the quarter, compared to the consensus estimate of $495.89 million. During the same quarter in the previous year, the company posted $0.62 EPS. Chart Industries’s quarterly revenue was up 51.9% compared to the same quarter last year. Research analysts predict that Chart Industries will post 6.06 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Craig Hallum reduced their price target on Chart Industries from $249.00 to $205.00 and set a “buy” rating for the company in a research report on Monday, February 13th. CL King started coverage on Chart Industries in a research report on Monday, May 8th. They set a “buy” rating and a $165.00 price target on the stock. Evercore ISI started coverage on shares of Chart Industries in a research report on Tuesday, March 21st. They issued an “outperform” rating and a $217.00 price objective for the company. TheStreet lowered shares of Chart Industries from a “b-” rating to a “c” rating in a report on Friday, February 24th. Finally, StockNews.com initiated coverage on shares of Chart Industries in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $193.06.

Insider Activity

In other news, VP Gerald F. Vinci bought 300 shares of the firm’s stock in a transaction on Tuesday, March 21st. The stock was acquired at an average cost of $119.28 per share, with a total value of $35,784.00. Following the completion of the transaction, the vice president now directly owns 300 shares of the company’s stock, valued at approximately $35,784. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Chart Industries news, VP Gerald F. Vinci bought 300 shares of the business’s stock in a transaction on Tuesday, March 21st. The stock was purchased at an average price of $119.28 per share, for a total transaction of $35,784.00. Following the completion of the transaction, the vice president now directly owns 300 shares of the company’s stock, valued at $35,784. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Linda S. Harty bought 5,000 shares of Chart Industries stock in a transaction dated Monday, March 20th. The stock was acquired at an average price of $105.01 per share, with a total value of $525,050.00. Following the purchase, the director now directly owns 6,067 shares of the company’s stock, valued at $637,095.67. The disclosure for this purchase can be found here. Insiders purchased 7,775 shares of company stock valued at $823,420 in the last three months. Company insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Chart Industries

A number of institutional investors have recently made changes to their positions in the business. Alyeska Investment Group L.P. bought a new stake in Chart Industries in the fourth quarter worth $84,970,000. Eagle Asset Management Inc. increased its holdings in shares of Chart Industries by 238.2% in the fourth quarter. Eagle Asset Management Inc. now owns 952,804 shares of the industrial products company’s stock worth $109,505,000 after buying an additional 671,103 shares during the period. Nordea Investment Management AB lifted its stake in shares of Chart Industries by 42.8% in the 4th quarter. Nordea Investment Management AB now owns 2,096,690 shares of the industrial products company’s stock valued at $239,044,000 after acquiring an additional 628,643 shares during the last quarter. Perpetual Ltd purchased a new stake in Chart Industries during the 1st quarter valued at about $76,717,000. Finally, Capital World Investors grew its position in Chart Industries by 16.1% during the 1st quarter. Capital World Investors now owns 4,402,819 shares of the industrial products company’s stock worth $756,272,000 after acquiring an additional 609,148 shares during the last quarter.

Chart Industries Company Profile

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Chart Industries, Inc engages in the manufacturing of engineered equipment for the industrial gas, energy, and biomedical industries. It operates through the following business segments: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products and Repair, Service & Leasing, and Corporate. The Cryo Tank Solutions segment supplies bulk, microbulk, and mobile equipment used in the storage, distribution, vaporization, and application of industrial gases.