Short Interest in Casella Waste Systems Inc. (NASDAQ:CWST) Rises By 12.9%

Casella Waste Systems Inc. (NASDAQ:CWST) was the recipient of a large growth in short interest in January. As of January 31st, there was short interest totalling 1,140,000 shares, a growth of 12.9% from the January 15th total of 1,010,000 shares. Based on an average daily trading volume, of 214,800 shares, the days-to-cover ratio is presently 5.3 days. Approximately 2.5% of the shares of the stock are sold short.

CWST traded up $1.00 during trading on Friday, reaching $54.69. The company’s stock had a trading volume of 158,975 shares, compared to its average volume of 226,100. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 5.38. The firm has a fifty day simple moving average of $49.42 and a two-hundred day simple moving average of $45.47. Casella Waste Systems has a 1 year low of $32.07 and a 1 year high of $54.88. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 364.60 and a beta of 0.72.

A number of brokerages recently weighed in on CWST. TheStreet lowered shares of Casella Waste Systems from a “b-” rating to a “c” rating in a research note on Friday, November 1st. Jefferies Financial Group began coverage on shares of Casella Waste Systems in a research note on Wednesday, November 27th. They issued a “buy” rating and a $52.00 price target on the stock. Zacks Investment Research raised shares of Casella Waste Systems from a “sell” rating to a “hold” rating in a research note on Thursday, January 9th. Finally, BidaskClub lowered shares of Casella Waste Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $47.00.

In related news, Director Emily Nagle Green sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $46.11, for a total value of $115,275.00. Following the transaction, the director now directly owns 30,988 shares of the company’s stock, valued at approximately $1,428,856.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 9.65% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CWST. Conestoga Capital Advisors LLC purchased a new position in Casella Waste Systems in the 3rd quarter worth approximately $62,198,000. Massachusetts Financial Services Co. MA purchased a new position in Casella Waste Systems in the 4th quarter worth approximately $12,767,000. FMR LLC lifted its stake in Casella Waste Systems by 144,505.3% in the 4th quarter. FMR LLC now owns 271,858 shares of the industrial products company’s stock worth $12,514,000 after purchasing an additional 271,670 shares in the last quarter. Earnest Partners LLC lifted its stake in Casella Waste Systems by 6.7% in the 4th quarter. Earnest Partners LLC now owns 2,448,432 shares of the industrial products company’s stock worth $112,701,000 after purchasing an additional 152,715 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its stake in Casella Waste Systems by 30.6% in the 4th quarter. William Blair Investment Management LLC now owns 540,210 shares of the industrial products company’s stock worth $24,866,000 after purchasing an additional 126,594 shares in the last quarter. 91.32% of the stock is currently owned by institutional investors and hedge funds.

Casella Waste Systems Company Profile

Casella Waste Systems, Inc, together with its subsidiaries, operates as a vertically integrated solid waste services company in the northeastern United States. The company operates through Eastern, Western, Recycling, and Other segments. It offers resource management services primarily in the areas of solid waste collection and disposal, transfer, recycling, and organics services to residential, commercial, municipal, and industrial customers.

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