Innospec Inc. (NASDAQ:IOSP) Short Interest Update

Innospec Inc. (NASDAQ:IOSP) was the target of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 289,000 shares, a drop of 10.8% from the January 15th total of 324,000 shares. Currently, 1.2% of the company’s shares are short sold. Based on an average daily volume of 130,300 shares, the short-interest ratio is presently 2.2 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Innospec from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 11th.

Innospec Price Performance

Shares of IOSP stock traded down $3.61 during mid-day trading on Monday, hitting $108.19. 154,173 shares of the stock traded hands, compared to its average volume of 114,648. The stock has a market cap of $2.70 billion, a P/E ratio of 18.88 and a beta of 1.09. The stock’s fifty day moving average is $111.79 and its two-hundred day moving average is $112.74. Innospec has a 52-week low of $103.65 and a 52-week high of $133.71.

Hedge Funds Weigh In On Innospec

Several hedge funds and other institutional investors have recently modified their holdings of IOSP. Pacer Advisors Inc. purchased a new position in shares of Innospec in the 4th quarter valued at approximately $53,457,000. Raymond James Financial Inc. purchased a new position in Innospec during the 4th quarter worth approximately $20,992,000. Allspring Global Investments Holdings LLC raised its position in Innospec by 4.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,405,770 shares of the specialty chemicals company’s stock worth $272,069,000 after buying an additional 105,311 shares during the last quarter. Norges Bank purchased a new position in Innospec during the 4th quarter worth approximately $11,312,000. Finally, Royce & Associates LP raised its position in Innospec by 9.3% during the 3rd quarter. Royce & Associates LP now owns 835,333 shares of the specialty chemicals company’s stock worth $94,468,000 after buying an additional 70,902 shares during the last quarter. 96.64% of the stock is owned by hedge funds and other institutional investors.

Innospec Company Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in additives in diesel, jet, marine, fuel oil and other fuels.