Short Interest in GCP Applied Technologies Inc (NYSE:GCP) Drops By 6.5%

GCP Applied Technologies Inc (NYSE:GCP) saw a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 3,170,000 shares, a decrease of 6.5% from the January 15th total of 3,390,000 shares. Based on an average daily trading volume, of 308,000 shares, the short-interest ratio is presently 10.3 days. Currently, 5.4% of the shares of the stock are short sold.

GCP stock traded up $0.07 during mid-day trading on Friday, hitting $23.55. The company had a trading volume of 281,847 shares. GCP Applied Technologies has a 12-month low of $16.51 and a 12-month high of $31.74. The company has a 50-day moving average price of $23.11 and a 200 day moving average price of $21.17.

A number of hedge funds have recently made changes to their positions in GCP. Macquarie Group Ltd. purchased a new stake in GCP Applied Technologies in the 2nd quarter worth $39,000. NumerixS Investment Technologies Inc purchased a new stake in shares of GCP Applied Technologies during the 4th quarter valued at about $57,000. Marshall Wace LLP purchased a new stake in shares of GCP Applied Technologies during the 1st quarter valued at about $88,000. Tower Research Capital LLC TRC purchased a new stake in shares of GCP Applied Technologies during the 3rd quarter valued at about $104,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of GCP Applied Technologies during the 3rd quarter valued at about $177,000. Institutional investors and hedge funds own 74.50% of the company’s stock.

Separately, Zacks Investment Research downgraded shares of GCP Applied Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, January 22nd.

About GCP Applied Technologies

GCP Applied Technologies Inc produces and sells specialty construction chemicals and specialty building materials worldwide. Its Specialty Construction Chemicals segment offers concrete admixtures under the CONCERA, CLARENA, ADVA, STRUX, MIRA, TYTRO, POLARSET, ECLIPSE, DARACEM, DARASET, DCI, RECOVER, WRDA, and ZYLA brands; admixtures for decorative concrete under the PIERI brand; concrete production management and engineered systems under the VERIFI and DUCTILCRETE brands; and cement additives under the OPTEVA HE, TAVERO VM, CBA, SYNCHRO, HEA2, TDA, and ESE brands.

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