Centuri Holdings, Inc. (NYSE:CTRI) Sees Significant Increase in Short Interest

Centuri Holdings, Inc. (NYSE:CTRI) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 3,210,000 shares, a growth of 10.7% from the December 15th total of 2,900,000 shares. Currently, 24.5% of the company’s stock are sold short. Based on an average trading volume of 400,400 shares, the days-to-cover ratio is presently 8.0 days.

Centuri Stock Performance

NYSE CTRI traded up $0.18 on Monday, hitting $21.95. The stock had a trading volume of 302,652 shares, compared to its average volume of 218,324. The firm has a 50-day moving average of $20.48 and a 200-day moving average of $18.56. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.64 and a current ratio of 1.64. Centuri has a 52-week low of $14.47 and a 52-week high of $28.65.

Institutional Trading of Centuri

Hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA purchased a new stake in Centuri in the second quarter worth approximately $33,619,000. Zimmer Partners LP boosted its stake in shares of Centuri by 67.4% in the 3rd quarter. Zimmer Partners LP now owns 1,515,550 shares of the company’s stock valued at $24,476,000 after purchasing an additional 610,138 shares in the last quarter. Clearbridge Investments LLC bought a new position in shares of Centuri during the 2nd quarter valued at $5,587,000. Point72 Asset Management L.P. bought a new position in shares of Centuri during the 2nd quarter valued at $4,339,000. Finally, Ghisallo Capital Management LLC purchased a new position in Centuri in the 2nd quarter worth $3,409,000.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CTRI shares. JPMorgan Chase & Co. increased their target price on shares of Centuri from $16.00 to $17.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Robert W. Baird raised their target price on Centuri from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Centuri presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.40.

About Centuri

Centuri Holdings, Inc operates as a utility infrastructure services company in North America. It offers gas utility services, including maintenance, repair, installation, and replacement services for natural gas local distribution utility companies with focus on the modernization of infrastructure. The company also provides electric utility services comprising design, maintenance and repair, upgrade, and expansion services for transmission and distribution infrastructure.