Suzano S.A. Sponsored ADR (NYSE:SUZ) Sees Significant Decline in Short Interest

Suzano S.A. Sponsored ADR (NYSE:SUZ) saw a significant decline in short interest in April. As of April 30th, there was short interest totaling 6,816,101 shares, a decline of 44.7% from the April 15th total of 12,333,108 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average daily volume of 2,471,073 shares, the days-to-cover ratio is currently 2.8 days.

Institutional Trading of Suzano

Hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its holdings in Suzano by 11,502.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,293 shares of the company’s stock worth $40,000 after purchasing an additional 4,256 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Suzano during the 1st quarter worth $51,000. Parallel Advisors LLC raised its holdings in shares of Suzano by 71.7% during the 3rd quarter. Parallel Advisors LLC now owns 9,341 shares of the company’s stock worth $88,000 after buying an additional 3,901 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Suzano by 16.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,017 shares of the company’s stock worth $93,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in Suzano during the 3rd quarter worth $94,000. 2.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SUZ. Jefferies Financial Group initiated coverage on Suzano in a research report on Thursday, February 5th. They set a “buy” rating and a $13.40 target price for the company. Zacks Research downgraded Suzano from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 7th. Bank of America downgraded Suzano from a “buy” rating to a “neutral” rating and set a $11.00 price target for the company. in a report on Tuesday, April 7th. Finally, Weiss Ratings upgraded Suzano from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 8th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $12.20.

Suzano Stock Performance

Shares of NYSE SUZ traded up $0.17 during midday trading on Monday, hitting $8.38. 4,169,951 shares of the company’s stock were exchanged, compared to its average volume of 2,511,882. The company has a quick ratio of 2.80, a current ratio of 3.51 and a debt-to-equity ratio of 1.81. Suzano has a 12 month low of $8.19 and a 12 month high of $11.53. The company’s 50 day moving average price is $9.48 and its 200 day moving average price is $9.57. The firm has a market capitalization of $10.39 billion, a PE ratio of 4.99, a price-to-earnings-growth ratio of 0.18 and a beta of 0.59.

About Suzano

Suzano SA is a Brazil-based pulp and paper company recognized as one of the world’s leading producers of eucalyptus pulp. The company develops and supplies a wide range of fiber-based products that serve global demand in printing and writing papers, tissue paper, packaging, and specialty paper markets. With an extensive network of industrial units and logistics operations, Suzano manages every stage of production from forest plantations to final delivery, emphasizing integrated operations and quality control.

At the core of Suzano’s business is its sustainable forestry model, which covers more than one million hectares of managed eucalyptus plantations across Brazil.