Cadeler A/S (NYSE:CDLR) Shares Gap Up on Earnings Beat

Cadeler A/S (NYSE:CDLR) shares gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $20.75, but opened at $21.91. Cadeler A/S shares last traded at $21.52, with a volume of 34,165 shares changing hands.

The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.34 by $0.13. The business had revenue of $88.65 million for the quarter, compared to analysts’ expectations of $82.84 million.

Hedge Funds Weigh In On Cadeler A/S

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC acquired a new position in Cadeler A/S during the 4th quarter valued at approximately $52,000. BNP Paribas Financial Markets purchased a new position in Cadeler A/S in the 3rd quarter worth $248,000. Apriem Advisors lifted its position in Cadeler A/S by 3.5% during the 4th quarter. Apriem Advisors now owns 15,000 shares of the company’s stock worth $335,000 after acquiring an additional 512 shares during the period. Stifel Financial Corp grew its stake in Cadeler A/S by 27.7% during the 4th quarter. Stifel Financial Corp now owns 15,130 shares of the company’s stock valued at $338,000 after purchasing an additional 3,284 shares during the last quarter. Finally, OLD Mission Capital LLC acquired a new position in shares of Cadeler A/S in the fourth quarter valued at about $435,000. 53.03% of the stock is owned by hedge funds and other institutional investors.

Cadeler A/S Price Performance

The company has a quick ratio of 1.81, a current ratio of 1.82 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average price of $19.73 and a 200-day moving average price of $23.18.

About Cadeler A/S

Cadeler A/S operates as an offshore wind farm transportation and installation contractor in Denmark. It also provides wind farm construction, maintenance, decommissioning, and other tasks within the offshore industry, as well as marine and engineering services. The company owns and operates four offshore jack-up windfarm installation vessels.