Suzano S.A. Sponsored ADR (NYSE:SUZ) Sees Large Drop in Short Interest
by Scott Moore · The Cerbat GemSuzano S.A. Sponsored ADR (NYSE:SUZ – Get Free Report) saw a significant decrease in short interest in the month of April. As of April 30th, there was short interest totaling 6,816,101 shares, a decrease of 44.7% from the April 15th total of 12,333,108 shares. Based on an average daily trading volume, of 2,471,073 shares, the days-to-cover ratio is presently 2.8 days. Approximately 0.5% of the company’s shares are short sold.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in SUZ. Caitong International Asset Management Co. Ltd grew its holdings in shares of Suzano by 11,502.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,293 shares of the company’s stock valued at $40,000 after buying an additional 4,256 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Suzano during the first quarter valued at about $51,000. Parallel Advisors LLC grew its holdings in shares of Suzano by 71.7% during the third quarter. Parallel Advisors LLC now owns 9,341 shares of the company’s stock valued at $88,000 after buying an additional 3,901 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Suzano by 16.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,017 shares of the company’s stock valued at $93,000 after buying an additional 1,400 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Suzano during the third quarter valued at about $94,000. 2.55% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on SUZ shares. Bank of America cut shares of Suzano from a “buy” rating to a “neutral” rating and set a $11.00 price objective for the company. in a research report on Tuesday, April 7th. Zacks Research cut shares of Suzano from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 7th. Weiss Ratings upgraded shares of Suzano from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 8th. Finally, Jefferies Financial Group started coverage on shares of Suzano in a report on Thursday, February 5th. They issued a “buy” rating and a $13.40 price target for the company. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Suzano currently has a consensus rating of “Hold” and an average price target of $12.20.
View Our Latest Analysis on Suzano
Suzano Stock Up 2.0%
NYSE:SUZ traded up $0.17 during trading hours on Monday, reaching $8.38. The company had a trading volume of 4,169,951 shares, compared to its average volume of 2,511,882. The company has a quick ratio of 2.80, a current ratio of 3.51 and a debt-to-equity ratio of 1.81. The firm has a market cap of $10.39 billion, a price-to-earnings ratio of 4.99, a P/E/G ratio of 0.18 and a beta of 0.59. The business’s 50-day simple moving average is $9.48 and its two-hundred day simple moving average is $9.57. Suzano has a twelve month low of $8.19 and a twelve month high of $11.53.
About Suzano
Suzano SA is a Brazil-based pulp and paper company recognized as one of the world’s leading producers of eucalyptus pulp. The company develops and supplies a wide range of fiber-based products that serve global demand in printing and writing papers, tissue paper, packaging, and specialty paper markets. With an extensive network of industrial units and logistics operations, Suzano manages every stage of production from forest plantations to final delivery, emphasizing integrated operations and quality control.
At the core of Suzano’s business is its sustainable forestry model, which covers more than one million hectares of managed eucalyptus plantations across Brazil.