Orchids Paper Products (NYSEAMERICAN:TIS) was the recipient of a large drop in short interest in the month of September. As of September 14th, there was short interest totalling 2,026,559 shares, a drop of 9.6% from the August 31st total of 2,241,555 shares. Currently, 20.7% of the company’s stock are sold short. Based on an average trading volume of 251,342 shares, the days-to-cover ratio is presently 8.1 days.
Separately, TheStreet downgraded Orchids Paper Products from a “c-” rating to a “d+” rating in a research note on Monday, July 9th.
TIS opened at $3.22 on Friday. Orchids Paper Products has a fifty-two week low of $0.70 and a fifty-two week high of $15.74.
Orchids Paper Products (NYSEAMERICAN:TIS) last posted its quarterly earnings results on Thursday, August 9th. The basic materials company reported ($0.42) earnings per share for the quarter. Orchids Paper Products had a return on equity of 2.19% and a net margin of 1.56%. The firm had revenue of $45.86 million for the quarter.
Institutional investors and hedge funds have recently bought and sold shares of the company. LMR Partners LLP purchased a new stake in shares of Orchids Paper Products during the 2nd quarter worth about $123,000. Alpine Global Management LLC purchased a new stake in shares of Orchids Paper Products during the 2nd quarter worth about $144,000. Paloma Partners Management Co purchased a new stake in shares of Orchids Paper Products during the 2nd quarter worth about $177,000. Wells Fargo & Company MN raised its stake in shares of Orchids Paper Products by 96.3% during the 1st quarter. Wells Fargo & Company MN now owns 55,507 shares of the basic materials company’s stock worth $453,000 after purchasing an additional 27,225 shares in the last quarter. Finally, Baird Financial Group Inc. raised its stake in shares of Orchids Paper Products by 33.4% during the 1st quarter. Baird Financial Group Inc. now owns 227,965 shares of the basic materials company’s stock worth $1,858,000 after purchasing an additional 57,061 shares in the last quarter.
About Orchids Paper Products
Orchids Paper Products Company manufactures and sells tissue products for at-home and away from home markets in the United States. Its products include paper towels, bathroom tissues, and paper napkins. The company offers its products under the Orchids Supreme, Clean Scents, Tackle, Colortex, My Size, Velvet, and Big Mopper brands; and licensed brands, such as Virtue, Truly Green, Golden Gate Paper, and Big Quality.
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