Carter Bankshares, Inc. (NASDAQ:CARE) Short Interest Update

Carter Bankshares, Inc. (NASDAQ:CARE) saw a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 638,700 shares, a decline of 8.0% from the December 15th total of 694,400 shares. Currently, 2.9% of the company’s shares are sold short. Based on an average daily trading volume, of 72,100 shares, the short-interest ratio is currently 8.9 days.

Analyst Ratings Changes

Separately, Hovde Group began coverage on Carter Bankshares in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $22.00 price target on the stock.

Carter Bankshares Price Performance

Shares of NASDAQ:CARE remained flat at $17.36 during midday trading on Monday. 78,318 shares of the company were exchanged, compared to its average volume of 62,153. The firm has a market cap of $400.50 million, a price-to-earnings ratio of 28.00 and a beta of 1.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.89 and a current ratio of 0.89. Carter Bankshares has a fifty-two week low of $10.95 and a fifty-two week high of $20.40. The stock’s fifty day moving average price is $18.20 and its two-hundred day moving average price is $17.43.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CARE. SG Americas Securities LLC bought a new stake in shares of Carter Bankshares in the third quarter worth $138,000. Semanteon Capital Management LP acquired a new stake in Carter Bankshares in the 3rd quarter valued at $196,000. XTX Topco Ltd acquired a new position in shares of Carter Bankshares during the 2nd quarter worth about $239,000. Truist Financial Corp boosted its stake in shares of Carter Bankshares by 43.5% during the 2nd quarter. Truist Financial Corp now owns 17,790 shares of the company’s stock worth $269,000 after buying an additional 5,394 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Carter Bankshares during the third quarter worth about $279,000. 41.48% of the stock is owned by institutional investors and hedge funds.

About Carter Bankshares

Carter Bankshares, Inc operates as the bank holding company for Carter Bank & Trust that provides various banking products and services in the United States. It accepts various deposit products, including checking, savings, retirement, and money market accounts, as well as certificates of deposits.