Short sellers flee as stock rallies 35% in a month. Electronic manufacturing services provider CLS reports Monday with bears in retreat and utilization near multi-month lows.
Short interest stands at 1.14 million shares as of April 23, just 0.99% of free float. That's down 16% over the past week and 23% over the past month. Days to cover sits at 2.15 based on official FINRA data from mid-April. Cost to borrow has collapsed to 0.55%, down 17% over the past month despite a brief spike to 1.32% on April 22. Utilization has plunged to just 0.38%, down from 1.08% a week ago and well below the 52-week high of 10.85%. Shares available to borrow far exceed existing short positions, making this one of the least-crowded shorts in the EMS sector.
Options data is unavailable for Celestica.
Analyst coverage data is unavailable for this stock.
The stock trades at 38.4x trailing earnings, up 7.4 turns over the past month as the stock outpaced earnings estimates. Price-to-book has climbed to 12.1x, up 2.3 turns in 30 days. EV/EBITDA sits at 24.6x, down 1.6 turns despite the rally as enterprise value calculations adjust. Momentum factors show strength: the stock ranks in the 67th percentile on 30-day EPS momentum and 74th percentile on 90-day EPS momentum. Earnings surprise sits at the 55th percentile. The short score ranks in the 91st percentile, flagging elevated risk for remaining bears.
Insiders sold a net $41.4 million over the past 90 days. The largest transaction was a $30.9 million sale by division president Jason Phillips on February 6 at $308.92 per share. BlackRock recently added 4.2 million shares and now holds 6.3 million shares, or 5.5% of the company. FMR LLC remains the largest holder at 7.4 million shares (6.4%), up 512,000 shares last quarter. Franklin Resources added 357,000 shares in early April.
The company last reported earnings on January 28. Prior prints occurred on the same late-January timeline.
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