CompoSecure, Inc. (NASDAQ:CMPO) Sees Large Drop in Short Interest

CompoSecure, Inc. (NASDAQ:CMPO) was the target of a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 11,600,000 shares, a drop of 12.8% from the November 15th total of 13,300,000 shares. Based on an average trading volume of 952,100 shares, the days-to-cover ratio is presently 12.2 days. Currently, 38.7% of the company’s stock are sold short.

Insider Activity

In related news, CEO Jonathan Wilk sold 618,014 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $7.55, for a total transaction of $4,666,005.70. Following the completion of the sale, the chief executive officer now owns 618,013 shares of the company’s stock, valued at $4,665,998.15. This represents a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michele Logan sold 10,017,983 shares of CompoSecure stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $7.55, for a total transaction of $75,635,771.65. Following the completion of the transaction, the director now directly owns 2,043,320 shares in the company, valued at $15,427,066. This represents a 83.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,816,657 shares of company stock worth $83,222,844. 74.99% of the stock is currently owned by company insiders.

Institutional Trading of CompoSecure

Several hedge funds and other institutional investors have recently bought and sold shares of CMPO. Tyro Capital Management LLC purchased a new position in CompoSecure in the third quarter valued at $27,978,000. Vanguard Group Inc. increased its stake in shares of CompoSecure by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 843,476 shares of the company’s stock valued at $6,098,000 after purchasing an additional 13,081 shares in the last quarter. Woodson Capital Management LP purchased a new position in shares of CompoSecure in the 3rd quarter valued at about $10,795,000. Geode Capital Management LLC boosted its position in CompoSecure by 34.1% during the third quarter. Geode Capital Management LLC now owns 585,746 shares of the company’s stock worth $8,214,000 after purchasing an additional 148,833 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC grew its holdings in CompoSecure by 146.9% in the second quarter. Pacific Ridge Capital Partners LLC now owns 486,462 shares of the company’s stock valued at $3,308,000 after purchasing an additional 289,451 shares during the period. 37.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on CMPO. Compass Point raised their price target on CompoSecure from $11.50 to $14.50 and gave the stock a “buy” rating in a report on Tuesday, August 20th. B. Riley lifted their target price on shares of CompoSecure from $18.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Benchmark reissued a “buy” rating and set a $17.00 target price on shares of CompoSecure in a research report on Tuesday, November 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 price target on shares of CompoSecure in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of CompoSecure from $12.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, CompoSecure has an average rating of “Moderate Buy” and an average target price of $16.36.

CompoSecure Trading Up 0.4 %

Shares of NASDAQ CMPO opened at $16.55 on Friday. The company has a 50 day simple moving average of $15.24 and a two-hundred day simple moving average of $11.44. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of -37.61, a PEG ratio of 2.65 and a beta of 0.76. CompoSecure has a 12 month low of $4.61 and a 12 month high of $16.80.

CompoSecure (NASDAQ:CMPO) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.02). The business had revenue of $107.14 million during the quarter, compared to analysts’ expectations of $105.11 million. CompoSecure had a negative net margin of 5.63% and a negative return on equity of 14.87%. During the same period in the previous year, the company posted $0.24 earnings per share. Analysts forecast that CompoSecure will post 1.02 EPS for the current year.

About CompoSecure

CompoSecure, Inc manufactures and designs metal, composite, and proprietary financial transaction cards in the United States and internationally. Its primary metal form factors include embedded, metal veneer lite, metal veneer, and full metal products. The company also offers Arculus Cold Storage Wallet, a three-factor authentication solution, which supports specific digital assets, including Bitcoin, Ethereum, non-fungible tokens and others.