Century Aluminum (NASDAQ:CENX) Shares Gap Down - Should You Sell?

Century Aluminum (NASDAQ:CENX - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $16.31, but opened at $15.56. Century Aluminum shares last traded at $15.75, with a volume of 57,308 shares.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CENX. StockNews.com lowered shares of Century Aluminum from a "hold" rating to a "sell" rating in a research note on Tuesday. B. Riley decreased their target price on shares of Century Aluminum from $24.00 to $22.00 and set a "buy" rating for the company in a research report on Friday, August 9th. Finally, BMO Capital Markets cut their price objective on Century Aluminum from $17.00 to $15.00 and set a "market perform" rating for the company in a report on Friday, August 9th.

Century Aluminum Stock Down 4.6 %

The firm's fifty day moving average is $14.14 and its 200 day moving average is $15.93. The stock has a market cap of $1.44 billion, a P/E ratio of 7.12 and a beta of 2.48. The company has a current ratio of 1.72, a quick ratio of 0.63 and a debt-to-equity ratio of 0.77.

Century Aluminum (NASDAQ:CENX - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The industrial products company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.05). Century Aluminum had a negative return on equity of 0.04% and a net margin of 10.32%. The business had revenue of $560.80 million for the quarter, compared to the consensus estimate of $530.90 million. As a group, equities research analysts forecast that Century Aluminum will post 0.07 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Covestor Ltd increased its position in shares of Century Aluminum by 13,746.2% in the 1st quarter. Covestor Ltd now owns 1,800 shares of the industrial products company's stock valued at $28,000 after buying an additional 1,787 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Century Aluminum by 199.8% in the first quarter. GAMMA Investing LLC now owns 2,878 shares of the industrial products company's stock valued at $44,000 after purchasing an additional 1,918 shares during the last quarter. Quest Partners LLC grew its stake in Century Aluminum by 104.1% in the 2nd quarter. Quest Partners LLC now owns 2,716 shares of the industrial products company's stock valued at $45,000 after buying an additional 1,385 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Century Aluminum by 7,779.8% during the first quarter. Russell Investments Group Ltd. now owns 7,013 shares of the industrial products company's stock worth $108,000 after purchasing an additional 6,924 shares during the period. Finally, Capstone Investment Advisors LLC bought a new position in Century Aluminum during the 1st quarter worth $161,000. Institutional investors own 61.59% of the company's stock.

About Century Aluminum

Century Aluminum Company, together with its subsidiaries, engages in the production of standard-grade and value-added primary aluminum products in the United States and Iceland. It also owns and operates an alumina production facility in Iceland, and a carbon anode production facility in the Netherlands.