Central Puerto (NYSE:CEPU) Shares Up 7.5% – Here’s What Happened

Central Puerto S.A. Sponsored ADR (NYSE:CEPU) rose 7.5% during mid-day trading on Thursday . The company traded as high as $17.56 and last traded at $17.4730. Approximately 169,949 shares traded hands during trading, a decline of 51% from the average daily volume of 345,727 shares. The stock had previously closed at $16.25.

Analyst Ratings Changes

Several analysts have commented on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Central Puerto in a report on Tuesday. Wall Street Zen raised shares of Central Puerto from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 9th. Finally, Citigroup assumed coverage on shares of Central Puerto in a research report on Wednesday, October 29th. They issued a “buy” rating and a $17.50 price objective on the stock. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Central Puerto has a consensus rating of “Moderate Buy” and an average target price of $17.50.

Central Puerto Stock Up 8.7%

The company has a current ratio of 1.40, a quick ratio of 1.31 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $2.67 billion, a P/E ratio of 11.94 and a beta of 1.06. The firm’s 50 day moving average price is $13.89 and its two-hundred day moving average price is $11.93.

Central Puerto (NYSE:CEPU) last announced its earnings results on Wednesday, November 12th. The company reported $0.70 EPS for the quarter. Central Puerto had a net margin of 28.24% and a return on equity of 15.01%. Equities research analysts forecast that Central Puerto S.A. Sponsored ADR will post 0.63 EPS for the current year.

Hedge Funds Weigh In On Central Puerto

Hedge funds have recently modified their holdings of the stock. Qube Research & Technologies Ltd raised its holdings in Central Puerto by 115.0% during the third quarter. Qube Research & Technologies Ltd now owns 89,497 shares of the company’s stock worth $717,000 after acquiring an additional 47,864 shares in the last quarter. Citadel Advisors LLC increased its position in shares of Central Puerto by 99.0% during the 3rd quarter. Citadel Advisors LLC now owns 86,491 shares of the company’s stock worth $693,000 after purchasing an additional 43,025 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Central Puerto by 301.6% during the 3rd quarter. Bank of America Corp DE now owns 82,460 shares of the company’s stock worth $661,000 after purchasing an additional 61,929 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Central Puerto during the 3rd quarter worth approximately $138,000. Finally, Van ECK Associates Corp acquired a new stake in shares of Central Puerto in the 3rd quarter valued at approximately $60,000. Institutional investors own 2.97% of the company’s stock.

About Central Puerto

Central Puerto SA engages in the electric power generation in Argentina. It operates through three segments: Electric Power Generation from Conventional Sources, Electric Power Generation from Renewable Sources, and Natural Gas Transport and Distribution. The company generates energy through thermal, hydroelectric, and wind farms.