Orchids Paper Products Company (TIS) Sees Significant Increase in Short Interest
Orchids Paper Products Company (NYSE:TIS) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 1,154,140 shares, a growth of 7.1% from the September 15th total of 1,077,518 shares. Approximately 12.3% of the company’s stock are short sold. Based on an average daily volume of 73,987 shares, the days-to-cover ratio is currently 15.6 days.
Shares of Orchids Paper Products Company (NYSE:TIS) traded down 0.39% during mid-day trading on Tuesday, hitting $27.88. 43,607 shares of the stock were exchanged. The stock has a market cap of $287.05 million and a PE ratio of 17.58. Orchids Paper Products Company has a 12 month low of $24.65 and a 12 month high of $36.31. The stock’s 50 day moving average is $27.85 and its 200-day moving average is $30.56.
Orchids Paper Products Company (NYSE:TIS) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.39 by $0.09. The company earned $39.40 million during the quarter, compared to analysts’ expectations of $47.11 million. The firm’s quarterly revenue was down 6.9% compared to the same quarter last year. On average, analysts anticipate that Orchids Paper Products Company will post $1.37 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in TIS. Allianz Asset Management AG purchased a new stake in Orchids Paper Products Company during the second quarter valued at $4,001,000. EAM Investors LLC purchased a new stake in Orchids Paper Products Company during the second quarter valued at $2,712,000. Ativo Capital Management LLC purchased a new stake in Orchids Paper Products Company during the second quarter valued at $729,000. Highbridge Capital Management LLC purchased a new stake in Orchids Paper Products Company during the second quarter valued at $482,000. Finally, Baird Financial Group Inc. increased its stake in Orchids Paper Products Company by 6.5% in the second quarter. Baird Financial Group Inc. now owns 207,201 shares of the company’s stock valued at $7,370,000 after buying an additional 12,581 shares during the last quarter.
Separately, Zacks Investment Research raised shares of Orchids Paper Products Company from a “hold” rating to a “strong-buy” rating and set a $40.00 price target on the stock in a report on Thursday, June 23rd.
About Orchids Paper Products Company
Orchids Paper Products Company is a supplier of consumer tissue products. The Company produces bulk tissue paper, known as parent rolls, and converts parent rolls into finished products, including paper towels, bathroom tissue and paper napkins. The Company offers customers an array of private label products across the value, premium and ultra-premium market segments.
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