What Next for Tenneco Inc (NYSE:TEN) Stock After Decrease in Shorted Shares?

July 14, 2018 - By Vernon Rice

Tenneco Inc. (NYSE:TEN) Logo

Investors sentiment increased to 1.3 in 2018 Q1. Its up 0.35, from 0.95 in 2017Q4. It improved, as 15 investors sold Tenneco Inc. shares while 83 reduced holdings. 41 funds opened positions while 86 raised stakes. 46.74 million shares or 0.57% more from 46.48 million shares in 2017Q4 were reported.
Bankshares Of New York Mellon owns 0.01% invested in Tenneco Inc. (NYSE:TEN) for 477,788 shares. Robecosam Ag holds 0.01% or 3,300 shares. Fifth Third National Bank has 764 shares for 0% of their portfolio. Moreover, Indexiq Advsr Ltd Liability Corporation has 0.07% invested in Tenneco Inc. (NYSE:TEN). Verition Fund Management Limited Liability Corporation holds 14,271 shares. Moreover, Bancshares Of Montreal Can has 0% invested in Tenneco Inc. (NYSE:TEN). Moreover, Parallax Volatility Advisers L P has 0% invested in Tenneco Inc. (NYSE:TEN) for 1,097 shares. Cornercap Investment Counsel Inc holds 31,405 shares. Teton Advsrs owns 37,000 shares. Globeflex Cap L P has invested 0.43% of its portfolio in Tenneco Inc. (NYSE:TEN). 358,033 are held by Btim. Delphi Mngmt Ma accumulated 35,950 shares. Clearbridge Invs Ltd Limited Liability Company accumulated 5,000 shares. Fny Managed Accounts Limited Com has 0.01% invested in Tenneco Inc. (NYSE:TEN) for 146 shares. Paloma Prtn Management Company has 49,270 shares for 0.04% of their portfolio.

Since May 11, 2018, it had 1 buy, and 0 sales for $1.00 million activity.

The stock of Tenneco Inc (NYSE:TEN) registered a decrease of 17.98% in short interest. TEN’s total short interest was 1.33M shares in July as published by FINRA. Its down 17.98% from 1.62M shares, reported previously. With 945,900 shares average volume, it will take short sellers 1 days to cover their TEN’s short positions. The short interest to Tenneco Inc’s float is 2.65%.

The stock increased 1.35% or $0.58 during the last trading session, reaching $43.69. About 421,219 shares traded. Tenneco Inc. (NYSE:TEN) has declined 16.26% since July 14, 2017 and is downtrending. It has underperformed by 28.83% the S&P500.

Tenneco Inc. designs, manufactures, and distributes clean air and ride performance products and systems for light vehicle, commercial truck, off-highway, and other vehicle applications worldwide. The company has market cap of $2.25 billion. The firm offers various vehicle emission control products and systems, including catalytic converters and diesel oxidation catalysts, diesel particulate filters, burner systems, lean nitrogen oxide traps, hydrocarbon vaporizers and injectors, selective catalytic reduction (SCR)systems, SCR-coated diesel particulate filters (SDPF) systems, urea dosing systems, four-way catalysts, alternative NOx reduction technologies, mufflers and resonators, fabricated exhaust manifolds, pipes, hydroformed assemblies, elastomeric hangers and isolators, and after treatment control units. It has a 11.08 P/E ratio. It also provides ride performance products and systems, such as shock absorbers; struts; vibration control components; kinetic suspension technology systems, dual-mode suspension solutions, semi-active and active suspension systems, and kinetic H2/CVSA continuously variable semi active suspension systems; and other ride performance products comprising load assist products, springs, steering stabilizers, adjustable suspension systems, suspension kits, and modular assemblies.

Tenneco Inc. (NYSE:TEN) Ratings Coverage

Among 6 analysts covering Tenneco Automotive (NYSE:TEN), 1 have Buy rating, 0 Sell and 5 Hold. Therefore 17% are positive. Tenneco Automotive has $70.0 highest and $60 lowest target. $64’s average target is 46.49% above currents $43.69 stock price. Tenneco Automotive had 7 analyst reports since February 9, 2018 according to SRatingsIntel. Morgan Stanley upgraded Tenneco Inc. (NYSE:TEN) on Wednesday, May 9 to “Equal-Weight” rating. The firm has “Buy” rating by Guggenheim given on Monday, February 12. The firm has “Market Perform” rating given on Monday, February 12 by Wells Fargo. Goldman Sachs downgraded the shares of TEN in report on Friday, April 13 to “Neutral” rating. RBC Capital Markets maintained Tenneco Inc. (NYSE:TEN) on Wednesday, April 11 with “Hold” rating. The firm has “Hold” rating by RBC Capital Markets given on Friday, February 9. The stock of Tenneco Inc. (NYSE:TEN) earned “Hold” rating by Deutsche Bank on Wednesday, April 11.

Another recent and important Tenneco Inc. (NYSE:TEN) news was published by Prnewswire.com which published an article titled: “SHAREHOLDER ALERT: Monteverde & Associates PC Announces An Investigation Of Tenneco, Inc. – TEN” on June 28, 2018.

Tenneco Inc. (NYSE:TEN) Institutional Positions Chart

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