GCP Applied Technologies Inc (NYSE:GCP) Short Interest Update

GCP Applied Technologies Inc (NYSE:GCP) saw a large growth in short interest in September. As of September 30th, there was short interest totalling 4,890,000 shares, a growth of 51.4% from the August 30th total of 3,230,000 shares. Based on an average daily volume of 597,900 shares, the short-interest ratio is presently 8.2 days. Currently, 8.3% of the company’s stock are short sold.

Several hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new stake in shares of GCP Applied Technologies during the 3rd quarter worth about $795,000. Macquarie Group Ltd. purchased a new position in GCP Applied Technologies during the 2nd quarter worth approximately $39,000. Nomura Holdings Inc. purchased a new position in GCP Applied Technologies during the 2nd quarter worth approximately $251,000. Indaba Capital Management L.P. purchased a new position in GCP Applied Technologies during the 2nd quarter worth approximately $13,975,000. Finally, Verition Fund Management LLC purchased a new position in GCP Applied Technologies during the 2nd quarter worth approximately $211,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE GCP traded up $0.81 during midday trading on Friday, hitting $19.43. 251,516 shares of the company’s stock were exchanged, compared to its average volume of 911,408. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.84 and a quick ratio of 2.31. GCP Applied Technologies has a twelve month low of $16.51 and a twelve month high of $31.74. The company has a market cap of $1.35 billion, a PE ratio of 21.35, a P/E/G ratio of 1.33 and a beta of 0.84. The firm’s fifty day simple moving average is $18.85 and its 200-day simple moving average is $23.50.

GCP Applied Technologies (NYSE:GCP) last issued its earnings results on Tuesday, August 6th. The construction company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.10). GCP Applied Technologies had a return on equity of 13.16% and a net margin of 6.95%. The business had revenue of $262.20 million for the quarter, compared to analyst estimates of $287.13 million. During the same period last year, the business posted $0.27 EPS. GCP Applied Technologies’s revenue was down 13.4% on a year-over-year basis. Equities analysts anticipate that GCP Applied Technologies will post 0.78 EPS for the current fiscal year.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised GCP Applied Technologies from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. ValuEngine raised GCP Applied Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd.

About GCP Applied Technologies

GCP Applied Technologies Inc produces and sells specialty construction chemicals and specialty building materials worldwide. Its Specialty Construction Chemicals segment offers concrete admixtures under the CONCERA, CLARENA, ADVA, STRUX, MIRA, TYTRO, POLARSET, ECLIPSE, DARACEM, DARASET, DCI, RECOVER, WRDA, and ZYLA brands; admixtures for decorative concrete under the PIERI brand; concrete production management and engineered systems under the VERIFI and DUCTILCRETE brands; and cement additives under the OPTEVA HE, TAVERO VM, CBA, SYNCHRO, HEA2, TDA, and ESE brands.

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