Cascades Inc. (OTCMKTS:CADNF – Get Rating) saw a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 319,000 shares, a drop of 29.3% from the April 30th total of 450,900 shares. Based on an average trading volume of 7,400 shares, the days-to-cover ratio is presently 43.1 days.
Shares of CADNF opened at $8.05 on Friday. Cascades has a fifty-two week low of $7.02 and a fifty-two week high of $13.40. The firm has a 50 day moving average price of $9.62 and a 200-day moving average price of $10.27.
A number of equities analysts have recently commented on CADNF shares. CIBC cut their price objective on shares of Cascades from C$14.00 to C$11.00 in a research report on Monday, May 16th. TD Securities cut their price objective on shares of Cascades from C$14.00 to C$10.50 in a research report on Friday, May 13th. BMO Capital Markets cut their price objective on shares of Cascades from C$20.00 to C$17.00 in a research report on Friday, May 13th. National Bank Financial dropped their target price on shares of Cascades from C$18.00 to C$14.00 in a research report on Friday, May 13th. Finally, Royal Bank of Canada dropped their target price on shares of Cascades from C$17.00 to C$15.00 in a research report on Friday, May 13th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Cascades currently has a consensus rating of “Buy” and an average price target of $14.29.
Cascades Inc produces, converts, and markets packaging and tissue products in Canada and the United States. The company operates through three segments: Containerboard, Specialty Products, and Tissue Papers. It manufactures containerboards, as well as converts corrugated products. The company also offers uncoated recycled paperboards for use in packaging converters and industrial users of headers and wrappers for the paper industry, as well as partitions that are used as protective packaging; honeycomb paperboards for the beer, wine, and spirits industry; laminated paperboards for food packaging and furniture backing industries; and specialty containers, structural components, and paperboard and fiber composites.
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