Nutrien Ltd. (NYSE:NTR) Sees Significant Decline in Short Interest

Nutrien Ltd. (NYSE:NTR) was the recipient of a large decline in short interest in January. As of January 31st, there was short interest totalling 4,780,000 shares, a decline of 18.0% from the January 15th total of 5,830,000 shares. Based on an average daily trading volume, of 2,120,000 shares, the short-interest ratio is currently 2.3 days. Approximately 1.0% of the company’s stock are sold short.

Analyst Ratings Changes

A number of brokerages have recently commented on NTR. Raymond James upgraded shares of Nutrien from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $58.00 to $60.00 in a report on Tuesday, December 3rd. CIBC restated an “outperformer” rating and set a $55.00 target price (down previously from $60.00) on shares of Nutrien in a report on Tuesday, December 10th. JPMorgan Chase & Co. raised Nutrien from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $40.00 to $50.00 in a research report on Monday, January 13th. TD Securities lowered their price target on Nutrien from $63.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company lifted their price target on Nutrien from $52.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.00.

Nutrien Trading Up 0.4 %

Shares of NYSE:NTR opened at $50.92 on Friday. The stock has a 50 day moving average of $49.02 and a 200 day moving average of $48.14. The company has a market cap of $25.01 billion, a PE ratio of 34.18, a price-to-earnings-growth ratio of 1.13 and a beta of 0.81. The company has a current ratio of 1.27, a quick ratio of 0.82 and a debt-to-equity ratio of 0.38. Nutrien has a 12-month low of $43.69 and a 12-month high of $60.87.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fairway Wealth LLC bought a new position in Nutrien in the 4th quarter worth approximately $27,000. HHM Wealth Advisors LLC boosted its stake in Nutrien by 331.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 625 shares of the company’s stock worth $28,000 after purchasing an additional 480 shares during the period. Assetmark Inc. boosted its stake in Nutrien by 1,437.5% in the 4th quarter. Assetmark Inc. now owns 738 shares of the company’s stock worth $33,000 after purchasing an additional 690 shares during the period. Asset Planning Inc bought a new position in Nutrien in the 4th quarter worth approximately $35,000. Finally, Exchange Traded Concepts LLC boosted its stake in Nutrien by 96.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 846 shares of the company’s stock worth $38,000 after purchasing an additional 416 shares during the period. 63.10% of the stock is currently owned by institutional investors.

Nutrien Company Profile

Nutrien Ltd. provides crop inputs and services. The company operates through four segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products.