Chart Industries, Inc. (GTLS) Short Interest Up 34.8% in October

Chart Industries, Inc. (NASDAQ:GTLS) saw a large growth in short interest in the month of October. As of October 13th, there was short interest totalling 2,150,259 shares, a growth of 34.8% from the September 29th total of 1,595,686 shares. Based on an average trading volume of 308,336 shares, the days-to-cover ratio is currently 7.0 days. Approximately 7.8% of the shares of the company are sold short.

Chart Industries (NASDAQ:GTLS) last issued its quarterly earnings results on Thursday, October 26th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.07. The business had revenue of $240.50 million during the quarter, compared to analysts’ expectations of $235.96 million. Chart Industries had a positive return on equity of 2.25% and a negative net margin of 0.21%. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 earnings per share.

Several hedge funds have recently modified their holdings of GTLS. Karp Capital Management Corp bought a new stake in shares of Chart Industries in the first quarter valued at approximately $361,000. Envestnet Asset Management Inc. boosted its stake in shares of Chart Industries by 2.7% in the first quarter. Envestnet Asset Management Inc. now owns 6,282 shares of the industrial products company’s stock valued at $219,000 after buying an additional 168 shares during the period. Prudential Financial Inc. boosted its stake in shares of Chart Industries by 1.0% in the first quarter. Prudential Financial Inc. now owns 52,935 shares of the industrial products company’s stock valued at $1,850,000 after buying an additional 550 shares during the period. SG Americas Securities LLC boosted its stake in shares of Chart Industries by 29.1% in the first quarter. SG Americas Securities LLC now owns 4,665 shares of the industrial products company’s stock valued at $163,000 after buying an additional 1,052 shares during the period. Finally, OppenheimerFunds Inc. boosted its stake in shares of Chart Industries by 25.5% in the first quarter. OppenheimerFunds Inc. now owns 18,728 shares of the industrial products company’s stock valued at $655,000 after buying an additional 3,803 shares during the period. Institutional investors and hedge funds own 85.56% of the company’s stock.

A number of brokerages have commented on GTLS. Zacks Investment Research upgraded Chart Industries from a “hold” rating to a “strong-buy” rating and set a $50.00 price objective for the company in a research report on Wednesday. Lake Street Capital raised their price objective on Chart Industries from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Seaport Global Securities upgraded Chart Industries from a “neutral” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Friday, October 27th. Cowen and Company reiterated a “hold” rating and issued a $40.00 price objective on shares of Chart Industries in a research report on Sunday, October 22nd. Finally, Northcoast Research upgraded Chart Industries from a “neutral” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Monday, October 9th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Chart Industries has an average rating of “Buy” and a consensus price target of $48.14.

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Chart Industries Company Profile

Chart Industries, Inc is a diversified global manufacturer of engineered equipment, packaged solutions, and value-add services used throughout the industrial gas, energy and biomedical industries. The Company operates through three business segments: Energy & Chemicals (E&C), Distribution & Storage (D&S) and BioMedical.

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