Cascades Inc. (OTCMKTS:CADNF) Stock Short Interest Jumps 61.5%

Cascades Inc. (OTCMKTS:CADNF) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 1,750,234 shares, a growth of 61.5% from the September 30th total of 1,083,651 shares. Based on an average trading volume of 35,189 shares, the short-interest ratio is presently 49.7 days.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Cascades in a research report on Monday, October 26th. TD Securities reiterated a “buy” rating on shares of Cascades in a report on Tuesday, August 4th. Scotiabank reissued an “outperform” rating on shares of Cascades in a research report on Friday, August 14th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Cascades in a report on Monday, August 10th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Cascades Trading Up 3.8%

Cascades stock opened at $12.77 on Tuesday. Cascades has a fifty-two week low of $7.50 and a fifty-two week high of $13.20. The firm has a 50 day moving average price of $12.41 and a 200 day moving average price of $9.74.

Cascades Company Profile

Cascades Inc is a Canadian company that produces sustainable packaging and hygiene products primarily from recycled and renewable fibers. Its offerings include corrugated and specialty packaging, containerboard, tissue products, and recovery and recycling services for commercial, industrial, and consumer markets.

Founded in 1964 by the Lemaire family in Kingsey Falls, Quebec, Cascades has grown from a paper mill using recycled materials into an integrated manufacturer serving customers across Canada and the United States.