Pactiv Evergreen Inc. (NASDAQ:PTVE) Short Interest Up 48.6% in February

Pactiv Evergreen Inc. (NASDAQ:PTVE) was the target of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 1,590,000 shares, an increase of 48.6% from the January 31st total of 1,070,000 shares. Based on an average daily volume of 1,130,000 shares, the short-interest ratio is currently 1.4 days. Approximately 4.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. AlphaQuest LLC boosted its holdings in shares of Pactiv Evergreen by 10,155.9% in the fourth quarter. AlphaQuest LLC now owns 3,487 shares of the company’s stock valued at $61,000 after acquiring an additional 3,453 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Pactiv Evergreen in the third quarter valued at about $132,000. Blue Trust Inc. boosted its holdings in shares of Pactiv Evergreen by 1,590.7% in the fourth quarter. Blue Trust Inc. now owns 7,963 shares of the company’s stock valued at $139,000 after acquiring an additional 7,492 shares in the last quarter. State of Wyoming boosted its holdings in shares of Pactiv Evergreen by 109.7% in the fourth quarter. State of Wyoming now owns 9,071 shares of the company’s stock valued at $158,000 after acquiring an additional 4,745 shares in the last quarter. Finally, Tidal Investments LLC purchased a new stake in shares of Pactiv Evergreen in the fourth quarter valued at about $177,000. 22.23% of the stock is currently owned by institutional investors and hedge funds.

Pactiv Evergreen Stock Performance

NASDAQ PTVE traded down $0.02 during trading on Tuesday, reaching $17.83. The company’s stock had a trading volume of 626,363 shares, compared to its average volume of 661,242. The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.04 and a current ratio of 1.93. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of -19.38, a P/E/G ratio of 1.47 and a beta of 1.24. Pactiv Evergreen has a twelve month low of $8.83 and a twelve month high of $17.88. The business’s fifty day moving average price is $17.67 and its 200-day moving average price is $14.38.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Citigroup reaffirmed a “neutral” rating and set a $18.00 price objective (up from $13.00) on shares of Pactiv Evergreen in a research report on Tuesday, December 10th. UBS Group lowered shares of Pactiv Evergreen from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $16.00 to $18.00 in a research note on Friday, January 10th. Jefferies Financial Group reiterated a “hold” rating and set a $18.00 price target (up from $15.00) on shares of Pactiv Evergreen in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $18.00 price target (up from $14.00) on shares of Pactiv Evergreen in a research note on Thursday, December 19th. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $16.33.

Pactiv Evergreen Company Profile

Pactiv Evergreen Inc manufactures and distributes fresh foodservice and food merchandising products, and fresh beverage cartons in the United States, rest of North America, and internationally. It operates in two segments, Foodservice, and Food and Beverage Merchandising. The Foodservice segment offers food containers; drinkware, such as hot and cold cups and lids; and tableware, service ware, and other products.