Short Interest in Carolina Trust Bancshares Inc (NASDAQ:CART) Expands By 297.6%

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Carolina Trust Bancshares Inc (NASDAQ:CART) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 16,700 shares, a growth of 297.6% from the September 30th total of 4,200 shares. Based on an average daily trading volume, of 11,500 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.2% of the shares of the company are sold short.

A number of large investors have recently bought and sold shares of CART. Citadel Advisors LLC acquired a new stake in shares of Carolina Trust Bancshares in the 2nd quarter valued at about $90,000. Prospera Financial Services Inc acquired a new stake in shares of Carolina Trust Bancshares in the 2nd quarter valued at about $266,000. Finally, BlackRock Inc. raised its stake in shares of Carolina Trust Bancshares by 85.0% in the 2nd quarter. BlackRock Inc. now owns 11,867 shares of the bank’s stock valued at $93,000 after purchasing an additional 5,452 shares in the last quarter. Institutional investors and hedge funds own 31.00% of the company’s stock.

NASDAQ:CART traded up $0.01 during midday trading on Wednesday, reaching $11.50. The stock had a trading volume of 800 shares, compared to its average volume of 19,446. Carolina Trust Bancshares has a 1-year low of $7.20 and a 1-year high of $12.03. The firm’s fifty day simple moving average is $10.67 and its 200-day simple moving average is $9.46. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $104.96 million, a P/E ratio of 18.49 and a beta of 0.47.

Separately, ValuEngine lowered shares of Carolina Trust Bancshares from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd.

About Carolina Trust Bancshares

Carolina Trust BancShares, Inc operates as the bank holding company for Carolina Trust Bank, a state chartered bank that provides commercial banking products and services for individuals and businesses. It offers checking and savings accounts, and certificates of deposit; commercial, installment, mortgage, and personal loans; safe deposit boxes; and other associated services.

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