CSI Compressco LP (CCLP) Forms Double Bottom Chart Pattern; Strong Momentum for Sellers

September 17, 2017 - By Marie Mckinney

The chart of CSI Compressco LP (CCLP) shows a double bottom with $4.28 target or 9.00 % below today’s $4.70 share price. The 6 months chart pattern indicates high risk for the $166.83 million company. It was reported on Sep, 17 by Finviz.com. If the $4.28 price target is reached, the company will be worth $15.01 million less. Double bottoms are rare but powerful chart patterns.

The stock increased 1.08% or $0.05 on September 15, reaching $4.7. About 52,970 shares traded. CSI Compressco LP (NASDAQ:CCLP) has declined 29.05% since September 17, 2016 and is downtrending. It has underperformed by 45.75% the S&P500.

Analysts expect CSI Compressco LP (NASDAQ:CCLP) to report $-0.23 EPS on November, 3.They anticipate $0.24 EPS change or 51.06 % from last quarter’s $-0.47 EPS. After having $-0.21 EPS previously, CSI Compressco LP’s analysts see 9.52 % EPS growth.

CSI Compressco LP (NASDAQ:CCLP) Ratings Coverage

Among 5 analysts covering CSI Compressco LP (NASDAQ:CCLP), 1 have Buy rating, 1 Sell and 3 Hold. Therefore 20% are positive. CSI Compressco LP had 14 analyst reports since July 29, 2015 according to SRatingsIntel. As per Friday, January 22, the company rating was downgraded by Stifel Nicolaus. Wells Fargo initiated the shares of CCLP in report on Wednesday, September 2 with “Market Perform” rating. The rating was maintained by Bank of America with “Underperform” on Wednesday, August 23. The rating was downgraded by Raymond James on Monday, October 5 to “Outperform”. RBC Capital Markets maintained the shares of CCLP in report on Sunday, August 20 with “Hold” rating. The firm earned “Buy” rating on Friday, September 23 by Janney Capital. The rating was maintained by RBC Capital Markets with “Sector Perform” on Friday, August 7. Stifel Nicolaus maintained the shares of CCLP in report on Thursday, July 20 with “Hold” rating. Stifel Nicolaus maintained the shares of CCLP in report on Thursday, August 24 with “Hold” rating.

More notable recent CSI Compressco LP (NASDAQ:CCLP) news were published by: Prnewswire.com which released: “CSI Compressco LP Announces Fourth Quarter And Full Year 2016 Results” on February 28, 2017, also Marketwatch.com with their article: “4.65” published on December 06, 2014, Prnewswire.com published: “CSI Compressco LP Announces Closing Of $50 Million Private Placement Of Series …” on August 08, 2016. More interesting news about CSI Compressco LP (NASDAQ:CCLP) were released by: Nasdaq.com and their article: “CSI Compressco LP (CCLP) Ex-Dividend Date Scheduled for April 27, 2017” published on April 26, 2017 as well as Seekingalpha.com‘s news article titled: “Why CSI Compressco LP’s 50% Distribution Cut Didn’t Have To Be A Surprise” with publication date: April 28, 2017.

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