After Reaching Milestone, Is Ingevity Corporation (NYSE:NGVT)’s Short Interest Revealing Something?

July 18, 2017 - By Louis Casey

 After Reaching Milestone, Is Ingevity Corporation (NYSE:NGVT)’s Short Interest Revealing Something?

The stock of Ingevity Corporation (NYSE:NGVT) registered a decrease of 5.28% in short interest. NGVT’s total short interest was 525,700 shares in July as published by FINRA. Its down 5.28% from 555,000 shares, reported previously. With 175,300 shares average volume, it will take short sellers 3 days to cover their NGVT’s short positions.

The stock increased 1.41% or $0.81 on July 17, reaching $58.35. About shares traded. Ingevity Corp (NYSE:NGVT) has risen 127.90% since July 18, 2016 and is uptrending. It has outperformed by 111.20% the S&P500.

Ingevity Corporation is a manufacturer of specialty chemicals and high performance carbon materials. The company has market cap of $2.49 billion. The Firm is also a maker of activated carbon used in gasoline vapor emission control systems in cars, trucks, motorcycles and boats. It has a 53.67 P/E ratio. The Firm operates through two divisions: Performance Materials and Performance Chemicals.

Ingevity Corp (NYSE:NGVT) Ratings Coverage

Among 5 analysts covering Ingevity (NYSE:NGVT), 4 have Buy rating, 0 Sell and 1 Hold. Therefore 80% are positive. Ingevity had 6 analyst reports since June 1, 2016 according to SRatingsIntel. Buckingham Research initiated Ingevity Corp (NYSE:NGVT) on Friday, September 23 with “Neutral” rating. The firm has “Buy” rating by Jefferies given on Friday, September 23. On Friday, April 7 the stock rating was maintained by Aegis Capital with “Buy”. The stock of Ingevity Corp (NYSE:NGVT) earned “Outperform” rating by Oppenheimer on Wednesday, June 1. The stock has “Buy” rating by Aegis Capital on Tuesday, November 22. The rating was initiated by BB&T Capital on Friday, June 10 with “Buy”.

More recent Ingevity Corp (NYSE:NGVT) news were published by: Nasdaq.com which released: “Ingevity Enters Oversold Territory (NGVT)” on June 26, 2017. Also Postandcourier.com published the news titled: “North Charleston-based Ingevity Corp. to build carbon extrusion plant in China” on June 29, 2017. Reuters.com‘s news article titled: “BRIEF-Ingevity says will build a new activated carbon extrusion plant in …” with publication date: June 28, 2017 was also an interesting one.

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