Continental Materials Co. (NYSEAMERICAN:CUO) was the target of a significant decrease in short interest during the month of February. As of February 14th, there was short interest totalling 1,500 shares, a decrease of 62.5% from the January 30th total of 4,000 shares. Approximately 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 9,800 shares, the days-to-cover ratio is currently 0.2 days.
Separately, TheStreet lowered shares of Continental Materials from a “c-” rating to a “d” rating in a research report on Tuesday, December 3rd.
Shares of CUO stock traded down $0.11 during mid-day trading on Wednesday, hitting $9.13. 1,500 shares of the stock traded hands, compared to its average volume of 23,955. Continental Materials has a 52-week low of $6.81 and a 52-week high of $19.51.
Continental Materials Corporation produces and sells heating, ventilation, and air conditioning (HVAC) products; and construction products in North America. The HVAC Industry Group offers gas-fired wall furnaces, console heaters, and fan coils, as well as evaporative coolers. Continental Materials Corporation sells its HVAC products through plumbing, heating, and air conditioning wholesale distributors, as well as directly to retail home-centers and other retail outlets; and HVAC installing contractors and equipment manufacturers for commercial applications.
Further Reading: Are sell-side analysts objective?
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