Short Interest in Chemtrade Logistics Income Fund (OTCMKTS:CGIFF) Drops By 26.1%

Chemtrade Logistics Income Fund (OTCMKTS:CGIFFGet Rating) was the recipient of a large drop in short interest in April. As of April 30th, there was short interest totalling 45,500 shares, a drop of 26.1% from the April 15th total of 61,600 shares. Based on an average daily volume of 5,500 shares, the short-interest ratio is currently 8.3 days.

Shares of OTCMKTS CGIFF traded up $0.09 during mid-day trading on Monday, reaching $5.99. The company had a trading volume of 13,000 shares, compared to its average volume of 5,888. The stock has a fifty day moving average of $6.20 and a two-hundred day moving average of $6.02. Chemtrade Logistics Income Fund has a 12-month low of $4.70 and a 12-month high of $6.64.

CGIFF has been the topic of a number of analyst reports. Scotiabank increased their target price on Chemtrade Logistics Income Fund from C$8.50 to C$9.50 in a report on Thursday. Desjardins reduced their target price on Chemtrade Logistics Income Fund from C$10.00 to C$9.50 in a report on Friday, January 28th. National Bank Financial raised their price objective on Chemtrade Logistics Income Fund from C$8.75 to C$9.25 in a research report on Wednesday, May 11th. BMO Capital Markets lifted their target price on Chemtrade Logistics Income Fund from C$7.50 to C$8.00 in a research report on Wednesday, May 11th. Finally, Raymond James boosted their price target on Chemtrade Logistics Income Fund from C$11.00 to C$12.00 in a research note on Thursday, February 24th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $9.79.

Chemtrade Logistics Income Fund Company Profile (Get Rating)

Chemtrade Logistics Income Fund offers industrial chemicals and services in Canada, the United States, and South America. It operates through Sulphur Products & Performance chemicals (SPPC), Water Solutions & Specialty Chemicals (WSSC), and Electrochemicals (EC) segments. The SPPC segment removes and/or produces, and markets merchant, regenerated, and ultra-pure sulphuric acid, sodium hydrosulphite, elemental sulphur, liquid sulphur dioxide, hydrogen sulphide, sodium bisulphite, and sulphides.

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