Trinseo PLC (NYSE:TSE) Sees Large Increase in Short Interest

Trinseo PLC (NYSE:TSE) saw a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 831,000 shares, a growth of 36.7% from the April 30th total of 607,700 shares. Approximately 2.5% of the shares of the stock are short sold. Based on an average trading volume of 344,900 shares, the short-interest ratio is presently 2.4 days.

Hedge Funds Weigh In On Trinseo

Institutional investors and hedge funds have recently made changes to their positions in the business. Covestor Ltd bought a new stake in Trinseo in the fourth quarter worth $36,000. Rhumbline Advisers grew its stake in shares of Trinseo by 103.2% during the fourth quarter. Rhumbline Advisers now owns 7,879 shares of the basic materials company’s stock valued at $40,000 after buying an additional 4,002 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Trinseo in the fourth quarter worth about $51,000. State of Wyoming purchased a new position in shares of Trinseo in the fourth quarter worth about $53,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Trinseo in the 4th quarter valued at about $74,000. Institutional investors own 82.69% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Trinseo from a “hold” rating to a “sell” rating in a research note on Monday, May 12th.

Trinseo Trading Up 4.2%

TSE opened at $3.15 on Wednesday. The stock has a market capitalization of $112.15 million, a P/E ratio of -0.32 and a beta of 1.54. The stock has a 50-day moving average price of $3.27 and a 200-day moving average price of $4.15. Trinseo has a 12-month low of $1.94 and a 12-month high of $7.05.

Trinseo (NYSE:TSE) last released its earnings results on Wednesday, May 7th. The basic materials company reported ($1.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.40) by $0.03. The firm had revenue of $784.80 million during the quarter, compared to the consensus estimate of $980.01 million. On average, equities research analysts predict that Trinseo will post -3.88 EPS for the current year.

About Trinseo

Trinseo PLC operates as a specialty material solutions provider in the United States, Europe, the Asia-Pacific, and internationally. It operates through five segments: Engineered Materials, Latex Binders, Plastics Solutions, Polystyrene, and Americas Styrenics. The Engineered Materials segment offers rigid thermoplastic compounds and blends, soft thermoplastic, continuous cast, cell cast, activated methyl methacrylates (MMA), PMMA resins, and extruded PMMA sheets and resins for consumer electronics, medical, footwear, automotive, and building and construction applications under the EMERGE, CALIBRE, PLEXIGLAS, ALTUGLAS, ACRYSPA, AVONITE, STUDIO, MEGOL, APILON, APIGO, and APINAT brands.