Orchids Paper Products (NYSEAMERICAN:TIS) was the target of a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 1,684,910 shares, a growth of 20.2% from the May 15th total of 1,401,782 shares. Based on an average daily volume of 146,462 shares, the short-interest ratio is currently 11.5 days. Currently, 17.2% of the shares of the company are short sold.
Separately, Zacks Investment Research upgraded Orchids Paper Products from a “sell” rating to a “hold” rating in a research note on Friday, March 2nd.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Advisor Group Inc. grew its stake in shares of Orchids Paper Products by 1,237.5% in the 4th quarter. Advisor Group Inc. now owns 8,854 shares of the basic materials company’s stock valued at $113,000 after purchasing an additional 8,192 shares during the period. Investors Research Corp bought a new stake in shares of Orchids Paper Products in the 4th quarter valued at approximately $153,000. LPL Financial LLC bought a new stake in shares of Orchids Paper Products in the 4th quarter valued at approximately $348,000. Wells Fargo & Company MN grew its stake in shares of Orchids Paper Products by 70.8% in the 4th quarter. Wells Fargo & Company MN now owns 28,282 shares of the basic materials company’s stock valued at $362,000 after purchasing an additional 11,728 shares during the period. Finally, Wilen Investment Management CORP. grew its stake in shares of Orchids Paper Products by 236.4% in the 4th quarter. Wilen Investment Management CORP. now owns 107,634 shares of the basic materials company’s stock valued at $1,345,000 after purchasing an additional 75,636 shares during the period.
Shares of Orchids Paper Products opened at $4.51 on Thursday, according to Marketbeat Ratings. Orchids Paper Products has a 12-month low of $3.44 and a 12-month high of $15.74.
Orchids Paper Products (NYSEAMERICAN:TIS) last issued its quarterly earnings results on Wednesday, April 25th. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.02. Orchids Paper Products had a return on equity of 2.19% and a net margin of 1.56%. The firm had revenue of $48.25 million for the quarter, compared to analyst estimates of $47.15 million.
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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