Short Interest in Cactus Inc (NYSE:WHD) Grows By 49.1%

Cactus Inc (NYSE:WHD) was the recipient of a significant increase in short interest in the month of September. As of September 28th, there was short interest totalling 1,177,999 shares, an increase of 49.1% from the September 14th total of 789,934 shares. Based on an average daily volume of 603,136 shares, the days-to-cover ratio is currently 2.0 days. Currently, 3.1% of the shares of the company are sold short.

A number of research firms have commented on WHD. Citigroup set a $42.00 price objective on shares of Cactus and gave the stock a “buy” rating in a report on Friday, November 2nd. ValuEngine downgraded shares of Cactus from a “hold” rating to a “sell” rating in a report on Monday, October 22nd. Zacks Investment Research raised shares of Cactus from a “hold” rating to a “strong-buy” rating and set a $44.00 price objective for the company in a report on Thursday, October 4th. Morgan Stanley began coverage on shares of Cactus in a report on Tuesday, September 18th. They issued an “overweight” rating and a $42.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of Cactus from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, September 17th. One investment analyst has rated the stock with a sell rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $38.80.

Shares of WHD traded down $0.78 during midday trading on Friday, hitting $36.16. 333,456 shares of the stock traded hands, compared to its average volume of 497,695. Cactus has a 1-year low of $19.18 and a 1-year high of $40.97. The company has a market cap of $2.84 billion and a price-to-earnings ratio of 0.09. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.94 and a current ratio of 3.52.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Wednesday, October 31st. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.03. Cactus had a net margin of 11.31% and a return on equity of 51.28%. The company had revenue of $150.70 million during the quarter, compared to the consensus estimate of $146.35 million. The company’s revenue for the quarter was up 57.0% on a year-over-year basis. Analysts predict that Cactus will post 1.79 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in WHD. BlackRock Inc. raised its stake in shares of Cactus by 42.4% during the third quarter. BlackRock Inc. now owns 3,321,353 shares of the company’s stock valued at $127,141,000 after purchasing an additional 988,965 shares in the last quarter. FMR LLC raised its stake in shares of Cactus by 82.9% during the third quarter. FMR LLC now owns 1,914,055 shares of the company’s stock valued at $73,270,000 after purchasing an additional 867,298 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Cactus by 7.4% during the third quarter. Alliancebernstein L.P. now owns 1,532,016 shares of the company’s stock valued at $58,646,000 after purchasing an additional 105,602 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Cactus during the first quarter valued at about $34,585,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Cactus by 278.5% during the third quarter. Bank of New York Mellon Corp now owns 826,345 shares of the company’s stock valued at $31,633,000 after purchasing an additional 608,040 shares in the last quarter. 38.99% of the stock is owned by institutional investors.

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About Cactus

Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment. The company's principal products include Cactus SafeDrill wellhead systems, frac stacks, zipper manifolds, and production trees. It also provides field services, such as 24-hour service crews to assist with the installation, maintenance, and safe handling of the wellhead and pressure control equipment, as well as repair services for equipment that it sells or rents.

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