Orchids Paper Products (TIS) Sees Large Increase in Short Interest

Orchids Paper Products (NYSEAMERICAN:TIS) was the target of a large increase in short interest during the month of March. As of March 29th, there was short interest totalling 1,541,747 shares, an increase of 0.8% from the March 15th total of 1,529,750 shares. Based on an average daily volume of 91,180 shares, the short-interest ratio is currently 16.9 days. Currently, 15.9% of the company’s shares are short sold.

Shares of Orchids Paper Products stock opened at $7.62 on Thursday. Orchids Paper Products has a 52 week low of $7.25 and a 52 week high of $26.14.

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Orchids Paper Products (NYSEAMERICAN:TIS) last posted its quarterly earnings data on Monday, March 5th. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.06). The firm had revenue of $43.52 million during the quarter, compared to analysts’ expectations of $45.13 million. Orchids Paper Products had a net margin of 1.56% and a return on equity of 2.19%.

Hedge funds have recently bought and sold shares of the stock. Advisor Group Inc. raised its holdings 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 buying an additional 8,192 shares during the period. Investors Research Corp purchased a new stake in shares of Orchids Paper Products in the 4th quarter valued at $153,000. Teton Advisors Inc. purchased a new stake in shares of Orchids Paper Products in the 4th quarter valued at $297,000. LPL Financial LLC purchased a new stake in shares of Orchids Paper Products in the 4th quarter valued at $348,000. Finally, Wells Fargo & Company MN raised its holdings 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 buying an additional 11,728 shares during the period.

Separately, Zacks Investment Research raised Orchids Paper Products from a “sell” rating to a “hold” rating in a research note on Friday, March 2nd.

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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 Colortex, My Size, Velvet, Big Mopper, Orchids Supreme, Clean Scents, and Tackle brands; and licensed brands, such as Virtue, Truly Green, Golden Gate Paper, and Big Quality.

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