Short Interest in Cactus, Inc. (NYSE:WHD) Declines By 25.4%


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Cactus, Inc. (NYSE:WHD) was the target of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 976,800 shares, a drop of 25.4% from the March 31st total of 1,310,000 shares. Based on an average daily trading volume, of 507,100 shares, the days-to-cover ratio is currently 1.9 days.

Shares of NYSE:WHD traded up $0.68 during trading on Tuesday, hitting $32.01. The company’s stock had a trading volume of 569,756 shares, compared to its average volume of 466,826. The company has a 50-day moving average of $30.20 and a 200-day moving average of $27.36. Cactus has a 12 month low of $14.70 and a 12 month high of $39.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.09 and a quick ratio of 5.55. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 24.69 and a beta of 2.35.

Cactus (NYSE:WHD) last issued its quarterly earnings data on Wednesday, February 24th. The company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.01. The firm had revenue of $68.09 million for the quarter, compared to analysts’ expectations of $68.88 million. Cactus had a net margin of 11.96% and a return on equity of 14.25%. As a group, research analysts anticipate that Cactus will post 0.5 earnings per share for the current year.

Several brokerages have recently weighed in on WHD. Piper Sandler restated a “neutral” rating and set a $32.00 price target on shares of Cactus in a report on Monday, March 15th. Morgan Stanley upgraded shares of Cactus from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $33.00 to $40.00 in a research note on Wednesday, March 31st. Barclays upgraded shares of Cactus from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $33.00 to $37.00 in a research note on Monday. Bank of America upgraded shares of Cactus from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 6th. Finally, Wolfe Research cut shares of Cactus from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 11th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $29.00.

In other news, Director Michael Y. Mcgovern sold 35,000 shares of the firm’s stock in a transaction on Friday, March 12th. The stock was sold at an average price of $30.55, for a total transaction of $1,069,250.00. Following the completion of the transaction, the director now directly owns 21,018 shares in the company, valued at $642,099.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Scott Bender sold 1,624,112 shares of the firm’s stock in a transaction on Friday, March 12th. The shares were sold at an average price of $30.55, for a total value of $49,616,621.60. Following the transaction, the chief executive officer now owns 176,427 shares of the company’s stock, valued at $5,389,844.85. The disclosure for this sale can be found here. Insiders have sold 7,616,399 shares of company stock valued at $232,705,589 in the last three months. Insiders own 24.28% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its holdings in Cactus by 12.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,311,670 shares of the company’s stock worth $138,475,000 after acquiring an additional 579,745 shares in the last quarter. BlackRock Inc. increased its holdings in Cactus by 11.5% in the 4th quarter. BlackRock Inc. now owns 3,759,121 shares of the company’s stock worth $98,001,000 after acquiring an additional 387,781 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Cactus by 35.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,550,121 shares of the company’s stock worth $66,483,000 after acquiring an additional 673,241 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Cactus by 28.3% in the 4th quarter. Lazard Asset Management LLC now owns 2,175,405 shares of the company’s stock worth $56,712,000 after acquiring an additional 480,323 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Cactus by 4.8% during the 4th quarter. Alliancebernstein L.P. now owns 1,309,543 shares of the company’s stock valued at $34,140,000 after buying an additional 60,417 shares in the last quarter. 62.66% of the stock is owned by institutional investors.

Cactus Company Profile

Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment in the United States. The company's principal products include Cactus SafeDrill wellhead systems, Cactus SafeLink monobore, SafeClamp, and SafeInject systems, as well as frac stacks, zipper manifolds, and production trees.

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