Short Interest in Trecora Resources (NYSE:TREC) Drops By 11.1%

Trecora Resources (NYSE:TREC) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 194,700 shares, a drop of 11.1% from the December 15th total of 219,100 shares. Approximately 0.9% of the company’s shares are sold short. Based on an average daily volume of 52,100 shares, the days-to-cover ratio is presently 3.7 days.

Separately, ValuEngine lowered shares of Trecora Resources from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th.

Shares of TREC stock traded down $0.05 during trading hours on Thursday, hitting $7.35. 234 shares of the company were exchanged, compared to its average volume of 29,575. The firm has a market cap of $181.90 million, a P/E ratio of 81.78 and a beta of 1.19. Trecora Resources has a fifty-two week low of $7.01 and a fifty-two week high of $10.54. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.80 and a current ratio of 3.31. The company has a 50 day simple moving average of $7.39 and a two-hundred day simple moving average of $8.58.

Trecora Resources (NYSE:TREC) last announced its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. The company had revenue of $62.72 million during the quarter, compared to the consensus estimate of $69.00 million. Trecora Resources had a negative net margin of 0.20% and a positive return on equity of 1.38%. As a group, sell-side analysts expect that Trecora Resources will post 0.22 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC grew its position in shares of Trecora Resources by 2.3% during the 2nd quarter. Renaissance Technologies LLC now owns 52,985 shares of the basic materials company’s stock worth $507,000 after buying an additional 1,200 shares during the period. California Public Employees Retirement System grew its position in Trecora Resources by 5.3% in the 3rd quarter. California Public Employees Retirement System now owns 51,291 shares of the basic materials company’s stock valued at $463,000 after purchasing an additional 2,600 shares during the period. Rhumbline Advisers grew its position in Trecora Resources by 8.7% in the 3rd quarter. Rhumbline Advisers now owns 33,746 shares of the basic materials company’s stock valued at $304,000 after purchasing an additional 2,691 shares during the period. State Street Corp grew its position in Trecora Resources by 1.2% in the 3rd quarter. State Street Corp now owns 398,427 shares of the basic materials company’s stock valued at $3,594,000 after purchasing an additional 4,839 shares during the period. Finally, Northern Trust Corp grew its position in Trecora Resources by 3.4% in the 2nd quarter. Northern Trust Corp now owns 255,488 shares of the basic materials company’s stock valued at $2,445,000 after purchasing an additional 8,470 shares during the period. 49.12% of the stock is owned by institutional investors.

About Trecora Resources

Trecora Resources manufactures and sells various specialty petrochemical products and synthetic waxes in the United States. The company operates in two segments, Petrochemical and Specialty Waxes. The Petrochemical segment offers hydrocarbons and other petroleum based products, including isopentane, normal pentane, isohexane, and hexane for use in the production of polyethylene, packaging, polypropylene, expandable polystyrene, poly-iso/urethane foams, and crude oil from the Canadian tar sands, as well as in the catalyst support industry.

Read More: Risk Tolerance

Receive News & Ratings for Trecora Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trecora Resources and related companies with MarketBeat.com's FREE daily email newsletter.