It is currently trading at $14.00 which is much lower than the 50 day moving average which is $16.86 and quite a bit lower than the 200 day moving average of $15.82. The 50 day moving average went down $-2.86 or -16.98% and the 200 day average was down $-1.82. (NASDAQ:CENX) shares saw heavy trading volume with 2,927K shares changing hands in the last trading session. Overall, volume was up 24.41% over the stocks normal daily volume.
Traders are more bearish on shares of the company recently if you take a look at the uptick in short interest. The firm saw a rise in short interest of 8.98% between September 29, 2017 and October 13, 2017. Short shares grew from 8,602,406 to 9,375,008 over that timeframe. With short interest at 9,375,008 and short average daily volume at 1,718,886, days to cover is 5.0 and the percentage of shorted shares is 0.11% as of October 13.
The following firms have recently changed their position in CENX. Victory Capital Management Inc trimmed its stake by shedding 18,957 shares a decrease of 37.3% as of 09/30/2017. Victory Capital Management Inc claims 31,927 shares worth $529,000. The total value of its holdings decreased 33.3%. Nationwide Fund Advisors downsized its position by selling 5,298 shares a decrease of 11.7%. Nationwide Fund Advisors now holds 39,828 shares valued at $660,000. The value of the position overall is down by 6.1%.
As of the end of the quarter First Trust Advisors Lp had sold 25,789 shares trimming its holdings by 14.2%. The value of the investment in CENX went from $2,825,000 to $2,579,000 decreasing 8.7% quarter to quarter. Aperio Group, LLC reduced its investment by selling 4,381 shares a decrease of 7.6% from 06/30/2017 to 09/30/2017. Aperio Group, LLC currently owns 53,588 shares with a value of $888,000. The value of the position overall is down by 1.7%.
On August 21 the stock rating was upgraded from “Neutral” to “Hold” in a report from JP Morgan. On October 17 the company was upgraded to “Buy” from “Hold” by Deutsche Bank.
In the latest earnings report the EPS was $-2.70 and is expected to be $0.44 for the current year with 87,317,000 shares outstanding. Next quarter’s EPS is estimated at $0.07 with next year’s EPS projected to be $1.22.
Century Aluminum Company (Century), launched on February 20, 1981, is a holding company, which is a producer of primary aluminum and operates aluminum reduction facilities, or smelters, in the United States and Iceland. The Company operates through primary aluminum segment. The Business’s primary aluminum facilities produce standard grade primary aluminum products. As of December 31, 2016, its annual primary aluminum production capacity was approximately 1,012,000 tons per year (tpy). The Business’s principal subsidiaries are Century Kentucky, Inc. (CAKY), Nordural ehf (Nordural), Century Aluminum Sebree LLC (Century Sebree), Century Aluminum of South Carolina (CASC) and Century Aluminum of West Virginia, Inc. (Century of West Virginia). Its CAKY operates a primary aluminum reduction facility in Hawesville, Kentucky (Hawesville). Nordural Grundartangi ehf, a subsidiary of Nordural, operates a primary aluminum reduction facility in Grundartangi, Iceland (Grundartangi). Century Sebree operates a primary aluminum reduction facility in Robards, Kentucky (Sebree). CASC operates a primary aluminum reduction facility in Mt. Holly, South Carolina (Mt. Holly). Nordural Helguvik ehf, a subsidiary of Nordural, owns a greenfield primary aluminum project in Helguvik, Iceland (Helguvik or the Helguvik project)..