Cascades Inc (OTCMKTS:CADNF) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 467,300 shares, a decline of 18.7% from the August 15th total of 574,500 shares. Based on an average trading volume of 200 shares, the short-interest ratio is presently 2,336.5 days.
OTCMKTS CADNF traded up $0.08 on Wednesday, reaching $10.87. The company had a trading volume of 600 shares, compared to its average volume of 1,313. Cascades has a 1-year low of $7.27 and a 1-year high of $12.03. The company’s fifty day moving average is $11.13 and its 200-day moving average is $10.16.
Several analysts have commented on CADNF shares. TD Securities upped their target price on shares of Cascades from $16.50 to $18.00 and gave the company a “hold” rating in a research report on Friday, August 7th. CIBC upped their target price on shares of Cascades from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, July 6th. reiterated a “sell” rating on shares of Cascades in a research report on Tuesday, June 9th. Royal Bank of Canada cut shares of Cascades from a “sector perform” rating to an “underperform” rating and set a $13.00 target price for the company. in a research report on Wednesday, July 22nd. Finally, Scotiabank boosted their price target on shares of Cascades from $13.50 to $14.00 and gave the company a “sector perform” rating in a report on Thursday, July 9th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $15.25.
Cascades Inc produces, converts, and markets packaging and tissue products in Canada, the United States, and internationally. The company operates through four segments: Containerboard, Boxboard Europe, Specialty Products, and Tissue Papers. It offers containerboards, and coated recycled and virgin boxboards, as well as converts corrugated products.
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