Short Interest in Cooper-Standard Holdings Inc. (NYSE:CPS) Drops By 10.3%

Cooper-Standard Holdings Inc. (NYSE:CPS) was the target of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 960,100 shares, a drop of 10.3% from the March 15th total of 1,070,000 shares. Approximately 5.8% of the shares of the company are sold short. Based on an average daily volume of 167,800 shares, the days-to-cover ratio is currently 5.7 days.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Cooper-Standard from a “hold” rating to a “buy” rating in a research note on Monday.

Cooper-Standard Price Performance

Shares of NYSE CPS traded down $0.64 during midday trading on Wednesday, reaching $15.46. 107,769 shares of the stock were exchanged, compared to its average volume of 103,647. Cooper-Standard has a twelve month low of $9.86 and a twelve month high of $22.74. The firm has a 50-day simple moving average of $15.59 and a two-hundred day simple moving average of $16.12.

Cooper-Standard (NYSE:CPS) last issued its quarterly earnings data on Thursday, February 15th. The auto parts company reported ($1.79) EPS for the quarter. The firm had revenue of $673.64 million for the quarter.

Institutional Investors Weigh In On Cooper-Standard

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada acquired a new stake in Cooper-Standard in the 2nd quarter valued at $44,000. Allspring Global Investments Holdings LLC acquired a new stake in Cooper-Standard in the 3rd quarter valued at $56,000. Quantbot Technologies LP acquired a new stake in Cooper-Standard in the 2nd quarter valued at $57,000. Sunbelt Securities Inc. acquired a new stake in Cooper-Standard during the 2nd quarter worth $66,000. Finally, Barclays PLC boosted its stake in Cooper-Standard by 202.5% during the 2nd quarter. Barclays PLC now owns 5,269 shares of the auto parts company’s stock worth $75,000 after purchasing an additional 3,527 shares during the last quarter. Institutional investors and hedge funds own 69.11% of the company’s stock.

Cooper-Standard Company Profile

Cooper-Standard Holdings Inc, through its subsidiary, Cooper-Standard Automotive Inc, manufactures and sells sealing, fuel and brake delivery, and fluid transfer systems in the United States, Mexico, China, Poland, Canada, Germany, France, and internationally. The company offers sealing systems, including dynamic seals, static seals, encapsulated glasses, textured surfaces with cloth appearance, obstacle detection sensor systems, FlushSeal systems, variable extrusions, specialty sealing products, stainless steel trims, and frameless systems.