CPI Card Group Inc (NASDAQ:PMTS) Sees Significant Growth in Short Interest

CPI Card Group Inc (NASDAQ:PMTS) (TSE:PNT) was the target of a significant growth in short interest in November. As of November 29th, there was short interest totalling 278,600 shares, a growth of 10.6% from the November 14th total of 251,800 shares. Approximately 6.2% of the shares of the company are short sold. Based on an average daily volume of 34,000 shares, the days-to-cover ratio is currently 8.2 days.

A number of research analysts recently commented on PMTS shares. ValuEngine lowered CPI Card Group from a “hold” rating to a “sell” rating in a research note on Monday, November 25th. Zacks Investment Research upgraded CPI Card Group from a “hold” rating to a “buy” rating and set a $1.25 target price for the company in a research note on Wednesday, November 27th.

A hedge fund recently raised its stake in CPI Card Group stock. Millennium Management LLC raised its stake in CPI Card Group Inc (NASDAQ:PMTS) (TSE:PNT) by 1,080.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,620 shares of the credit services provider’s stock after acquiring an additional 57,314 shares during the period. Millennium Management LLC owned about 0.56% of CPI Card Group worth $161,000 as of its most recent SEC filing. 8.67% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ PMTS traded up $0.01 during trading hours on Friday, reaching $0.89. The stock had a trading volume of 22,258 shares, compared to its average volume of 57,078. The business’s fifty day moving average is $1.39 and its two-hundred day moving average is $2.30. The company has a market cap of $9.88 million, a price-to-earnings ratio of -1.14 and a beta of 0.82. CPI Card Group has a twelve month low of $0.77 and a twelve month high of $4.02.

CPI Card Group (NASDAQ:PMTS) (TSE:PNT) last issued its earnings results on Wednesday, November 6th. The credit services provider reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). The firm had revenue of $71.68 million during the quarter, compared to analyst estimates of $76.37 million. Research analysts predict that CPI Card Group will post -0.47 earnings per share for the current year.

About CPI Card Group

CPI Card Group Inc, together with its subsidiaries, engages in the design, production, data personalization, packaging, and fulfillment of financial payment cards. It operates through U.S. Debit and Credit, U.S. Prepaid Debit, and Other segments. The U.S. Debit and Credit segment produces financial payment cards and provides integrated card services to card-issuing banks in the United States.

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