SunCoke Energy, Inc. (NYSE:SXC) Sees Large Growth in Short Interest
by Doug Wharley · The Cerbat GemSunCoke Energy, Inc. (NYSE:SXC – Get Free Report) was the recipient of a large growth in short interest in February. As of February 27th, there was short interest totaling 5,914,321 shares, a growth of 21.4% from the February 12th total of 4,872,228 shares. Approximately 7.1% of the shares of the company are sold short. Based on an average daily volume of 2,247,117 shares, the short-interest ratio is currently 2.6 days. Based on an average daily volume of 2,247,117 shares, the short-interest ratio is currently 2.6 days. Approximately 7.1% of the shares of the company are sold short.
Wall Street Analyst Weigh In
A number of research firms have commented on SXC. Weiss Ratings cut SunCoke Energy from a “hold (c-)” rating to a “sell (d)” rating in a report on Tuesday, March 3rd. B. Riley Financial cut their target price on SunCoke Energy from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $9.00.
Check Out Our Latest Stock Analysis on SXC
Insiders Place Their Bets
In other news, SVP Phillip Michael Hardesty purchased 12,500 shares of the stock in a transaction on Wednesday, February 25th. The shares were acquired at an average price of $5.83 per share, with a total value of $72,875.00. Following the completion of the acquisition, the senior vice president directly owned 298,677 shares of the company’s stock, valued at $1,741,286.91. This trade represents a 4.37% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Mark W. Marinko acquired 10,000 shares of SunCoke Energy stock in a transaction dated Wednesday, February 25th. The stock was purchased at an average cost of $5.84 per share, with a total value of $58,400.00. Following the completion of the purchase, the chief financial officer owned 71,798 shares of the company’s stock, valued at approximately $419,300.32. This represents a 16.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.49% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On SunCoke Energy
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SXC. Signaturefd LLC increased its stake in SunCoke Energy by 44.9% in the 4th quarter. Signaturefd LLC now owns 4,256 shares of the energy company’s stock worth $31,000 after acquiring an additional 1,318 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of SunCoke Energy by 7.7% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,733 shares of the energy company’s stock valued at $187,000 after acquiring an additional 1,547 shares during the last quarter. Legal & General Group Plc boosted its position in shares of SunCoke Energy by 0.7% during the 2nd quarter. Legal & General Group Plc now owns 223,115 shares of the energy company’s stock valued at $1,917,000 after acquiring an additional 1,560 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of SunCoke Energy by 69.4% in the fourth quarter. Farther Finance Advisors LLC now owns 3,831 shares of the energy company’s stock valued at $28,000 after purchasing an additional 1,569 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in shares of SunCoke Energy by 80.6% in the second quarter. Allworth Financial LP now owns 3,629 shares of the energy company’s stock valued at $31,000 after purchasing an additional 1,620 shares in the last quarter. 90.45% of the stock is owned by institutional investors.
SunCoke Energy Price Performance
Shares of SXC stock traded up $0.06 during mid-day trading on Tuesday, hitting $5.88. The company had a trading volume of 1,832,070 shares, compared to its average volume of 1,503,115. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.11 and a quick ratio of 1.11. The stock’s 50 day moving average price is $7.26 and its 200-day moving average price is $7.40. SunCoke Energy has a 52-week low of $5.51 and a 52-week high of $9.82. The company has a market capitalization of $497.92 million, a P/E ratio of -11.31 and a beta of 0.99.
SunCoke Energy (NYSE:SXC – Get Free Report) last posted its earnings results on Tuesday, February 17th. The energy company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($1.10). The company had revenue of $480.20 million for the quarter, compared to analysts’ expectations of $437.45 million. SunCoke Energy had a negative net margin of 2.41% and a positive return on equity of 7.43%. The business’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.28 earnings per share. Equities research analysts forecast that SunCoke Energy will post 0.71 earnings per share for the current year.
SunCoke Energy Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 8.2%. The ex-dividend date of this dividend was Tuesday, February 17th. SunCoke Energy’s payout ratio is -92.31%.
SunCoke Energy Company Profile
SunCoke Energy, Inc is a leading independent producer of metallurgical coke and related products for the steel and foundry industries. The company specializes in manufacturing both blast furnace coke and foundry coke, offering high‐quality, low‐sulfur coal products that serve as essential inputs in steelmaking and metal casting processes. In addition to coke production, SunCoke provides comprehensive engineering, maintenance and environmental solutions tailored to the needs of integrated steel mills and foundries.
The company operates a network of coke production facilities across the United States, including plants in Indiana, Ohio, West Virginia and Louisiana.