Clearwater Paper Co. (NYSE:CLW) Sees Large Increase in Short Interest

Clearwater Paper Co. (NYSE:CLW) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totalling 1,090,000 shares, an increase of 25.3% from the September 30th total of 869,700 shares. Approximately 6.8% of the company’s stock are sold short. Based on an average daily trading volume, of 299,100 shares, the days-to-cover ratio is currently 3.6 days.

Clearwater Paper Stock Performance

Shares of CLW traded down $0.71 during trading hours on Wednesday, hitting $25.82. The company had a trading volume of 41,188 shares, compared to its average volume of 210,833. Clearwater Paper has a 12 month low of $25.50 and a 12 month high of $57.13. The firm has a market cap of $429.39 million, a price-to-earnings ratio of 9.91 and a beta of 0.32. The business has a fifty day moving average of $29.34 and a 200-day moving average of $40.85. The company has a quick ratio of 0.74, a current ratio of 1.73 and a debt-to-equity ratio of 1.73.

Clearwater Paper (NYSE:CLW) last released its earnings results on Tuesday, August 6th. The basic materials company reported ($0.42) earnings per share (EPS) for the quarter. The business had revenue of $586.40 million during the quarter. Clearwater Paper had a net margin of 2.16% and a return on equity of 11.56%.

Hedge Funds Weigh In On Clearwater Paper

Several institutional investors have recently added to or reduced their stakes in CLW. Innealta Capital LLC bought a new stake in Clearwater Paper during the 2nd quarter worth approximately $52,000. GAMMA Investing LLC lifted its position in shares of Clearwater Paper by 30.3% during the second quarter. GAMMA Investing LLC now owns 1,096 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 255 shares in the last quarter. nVerses Capital LLC purchased a new position in Clearwater Paper during the third quarter worth about $74,000. SG Americas Securities LLC purchased a new stake in Clearwater Paper in the 1st quarter valued at about $132,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Clearwater Paper in the 2nd quarter worth approximately $153,000. 89.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Royal Bank of Canada upgraded shares of Clearwater Paper from a “sector perform” rating to an “outperform” rating and reduced their target price for the stock from $48.00 to $37.00 in a report on Friday, October 18th. StockNews.com cut Clearwater Paper from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th.

About Clearwater Paper

Clearwater Paper Corporation manufactures and supplies bleached paperboards, and consumer and parent roll tissues in the United States and internationally. It operates through Pulp and Paperboard, and Consumer Products segments. The Pulp and Paperboard segment manufactures and markets bleached paperboard; Solid Bleached Sulfate paperboard that is used to produce folding cartons, liquid packaging, cups and plates, blister and carded packaging, and top sheet and commercial printing items; and hardwood and softwood pulp, as well as offers services that include custom sheeting, slitting, and cutting.