Cadeler A/S (NYSE:CDLR) Shares Gap Down – Here’s What Happened

Cadeler A/S Sponsored ADR (NYSE:CDLR) gapped down prior to trading on Friday. The stock had previously closed at $24.58, but opened at $23.42. Cadeler A/S shares last traded at $23.2580, with a volume of 1,302 shares trading hands.

Analysts Set New Price Targets

CDLR has been the subject of a number of research reports. Wall Street Zen upgraded shares of Cadeler A/S from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. Weiss Ratings upgraded Cadeler A/S from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, September 1st. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

Cadeler A/S Stock Up 0.3%

The company has a market capitalization of $2.27 billion, a PE ratio of 9.37 and a beta of 0.68. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.62 and a quick ratio of 1.61. The firm has a 50-day simple moving average of $24.00 and a 200 day simple moving average of $24.42.

Cadeler A/S (NYSE:CDLR) last released its quarterly earnings results on Tuesday, August 25th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.21. The business had revenue of $322.76 million during the quarter, compared to analyst estimates of $280.45 million. Cadeler A/S had a net margin of 27.45% and a return on equity of 12.58%.

Institutional Trading of Cadeler A/S

Institutional investors and hedge funds have recently bought and sold shares of the company. QRG Capital Management Inc. raised its position in shares of Cadeler A/S by 40.1% during the 2nd quarter. QRG Capital Management Inc. now owns 14,438 shares of the company’s stock valued at $316,000 after acquiring an additional 4,129 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Cadeler A/S in the 1st quarter valued at about $271,000. Cetera Investment Advisers boosted its position in shares of Cadeler A/S by 25.4% during the first quarter. Cetera Investment Advisers now owns 33,250 shares of the company’s stock worth $782,000 after buying an additional 6,741 shares during the period. Blue Trust Inc. acquired a new position in Cadeler A/S during the 1st quarter worth $42,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Cadeler A/S in the 4th quarter valued at about $236,000. Institutional investors and hedge funds own 53.03% of the company’s stock.

Cadeler A/S Company Profile

Cadeler A/S is a Denmark-based offshore wind installation company that provides specialized marine services for the construction and maintenance of offshore wind farms. Its operations support the transportation, installation and removal of wind turbine components, foundations and other large offshore structures.

The company operates a fleet of self-propelled jack-up installation vessels and related equipment designed to handle heavy components in challenging marine environments. Cadeler serves offshore wind developers, turbine manufacturers and engineering, procurement and construction contractors, providing vessel chartering, project execution and installation services.

Cadeler was established in 2008 and has expanded its capabilities through fleet development and corporate acquisitions, including the combination with Eneti.