Short Interest in Innospec Inc. (NASDAQ:IOSP) Rises By 36.6%

by · The Markets Daily

Innospec Inc. (NASDAQ:IOSP – Get Free Report) saw a large growth in short interest in October. As of October 15th, there was short interest totaling 579,100 shares, a growth of 36.6% from the September 30th total of 424,000 shares. Based on an average trading volume of 197,400 shares, the short-interest ratio is currently 2.9 days. Approximately 2.4% of the company’s stock are sold short. Approximately 2.4% of the company’s stock are sold short. Based on an average trading volume of 197,400 shares, the short-interest ratio is currently 2.9 days.

Wall Street Analysts Forecast Growth

IOSP has been the subject of several research analyst reports. Wall Street Zen cut shares of Innospec from a “buy” rating to a “hold” rating in a report on Sunday, October 19th. Weiss Ratings cut shares of Innospec from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. Finally, Zacks Research upgraded shares of Innospec from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Innospec has a consensus rating of “Hold”.

Read Our Latest Report on Innospec

Institutional Trading of Innospec

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Innospec in the 2nd quarter valued at about $28,000. Versant Capital Management Inc boosted its stake in shares of Innospec by 378.1% during the 3rd quarter. Versant Capital Management Inc now owns 545 shares of the specialty chemicals company’s stock worth $42,000 after purchasing an additional 431 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Innospec by 1,159.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 529 shares of the specialty chemicals company’s stock worth $44,000 after purchasing an additional 487 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Innospec by 38.3% during the 2nd quarter. Blue Trust Inc. now owns 672 shares of the specialty chemicals company’s stock worth $57,000 after purchasing an additional 186 shares during the last quarter. Finally, State of Wyoming boosted its stake in shares of Innospec by 27.5% during the 2nd quarter. State of Wyoming now owns 801 shares of the specialty chemicals company’s stock worth $67,000 after purchasing an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Innospec Trading Down 1.3%

IOSP stock traded down $0.98 on Tuesday, hitting $72.68. The company’s stock had a trading volume of 45,037 shares, compared to its average volume of 199,952. The firm has a 50 day moving average of $79.26 and a two-hundred day moving average of $83.61. Innospec has a 1 year low of $71.82 and a 1 year high of $128.35. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 93.19 and a beta of 1.04.

Innospec (NASDAQ:IOSP – Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The specialty chemicals company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.17 by $0.09. Innospec had a net margin of 1.08% and a return on equity of 10.89%. The firm had revenue of $439.70 million during the quarter, compared to the consensus estimate of $440.70 million. During the same quarter in the prior year, the firm earned $1.39 EPS. Innospec’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities analysts forecast that Innospec will post 6.18 EPS for the current fiscal year.

Innospec Company Profile

(Get Free Report)

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in additives in diesel, jet, marine, fuel oil and other fuels.

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