Nexeo Solutions Inc (NASDAQ:NXEO) saw a large growth in short interest in the month of September. As of September 28th, there was short interest totalling 5,019,610 shares, a growth of 102.5% from the September 14th total of 2,478,531 shares. Based on an average trading volume of 2,315,534 shares, the days-to-cover ratio is currently 2.2 days. Currently, 9.0% of the company’s shares are sold short.

Shares of Nexeo Solutions stock opened at $11.32 on Friday. Nexeo Solutions has a 12 month low of $7.17 and a 12 month high of $12.64. The stock has a market cap of $1.10 billion, a P/E ratio of 34.30, a PEG ratio of 0.86 and a beta of 0.16. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.15 and a quick ratio of 1.41.

Nexeo Solutions (NASDAQ:NXEO) last announced its earnings results on Monday, August 6th. The basic materials company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.12. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $994.50 million. Nexeo Solutions had a return on equity of 8.13% and a net margin of 1.45%. As a group, equities analysts expect that Nexeo Solutions will post 0.72 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Northern Trust Corp raised its position in Nexeo Solutions by 36.2% in the 2nd quarter. Northern Trust Corp now owns 512,362 shares of the basic materials company’s stock valued at $4,678,000 after purchasing an additional 136,259 shares in the last quarter. Bank of New York Mellon Corp raised its position in Nexeo Solutions by 1.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 343,055 shares of the basic materials company’s stock valued at $3,131,000 after purchasing an additional 6,331 shares in the last quarter. Millennium Management LLC raised its position in Nexeo Solutions by 4.2% in the 2nd quarter. Millennium Management LLC now owns 708,639 shares of the basic materials company’s stock valued at $6,470,000 after purchasing an additional 28,296 shares in the last quarter. Zebra Capital Management LLC raised its position in Nexeo Solutions by 324.8% in the 2nd quarter. Zebra Capital Management LLC now owns 71,614 shares of the basic materials company’s stock valued at $654,000 after purchasing an additional 54,757 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Nexeo Solutions by 16.1% in the 2nd quarter. Renaissance Technologies LLC now owns 982,992 shares of the basic materials company’s stock valued at $8,975,000 after purchasing an additional 136,392 shares in the last quarter. 93.73% of the stock is currently owned by institutional investors.

A number of equities analysts recently commented on the company. SunTrust Banks cut Nexeo Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, September 18th. Zacks Investment Research upgraded Nexeo Solutions from a “sell” rating to a “hold” rating in a report on Tuesday, July 17th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Nexeo Solutions presently has a consensus rating of “Hold” and a consensus target price of $12.00.

Nexeo Solutions Company Profile

Nexeo Solutions, Inc operates as a chemical and plastic products distributor in North America, Europe, the Middle East, Africa, and Asia. The company operates through Chemicals, Plastics, and Environmental Services segments. It provides approximately 22,000 products used in various industries, including household, industrial and institutional, lubricants, architectural coatings, adhesives, sealants, elastomers, automotive, healthcare, personal care, oil and gas, and construction.

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