Thu Sep 19 03:06:57 UTC 2024: ## Short Interest in Century Aluminum Surges, While CEO Sells Shares

**New York, NY (September 18, 2024)** – Short interest in Century Aluminum (CENX) climbed significantly during August, indicating heightened investor skepticism towards the company. Short interest totaled 5,820,000 shares on August 31st, representing a 10% increase from the previous month. This equates to approximately 11.3% of the company’s outstanding shares.

Despite the increasing short interest, analysts have mixed views on Century Aluminum. B. Riley lowered its price target to $22.00 but maintained a “buy” rating, while BMO Capital Markets downgraded the stock to “market perform” with a reduced target price of $15.00. StockNews.com upgraded Century Aluminum from “sell” to “hold”.

Century Aluminum’s recent earnings report did little to bolster investor confidence. The company missed analysts’ estimates for both earnings and revenue in the second quarter. Despite a revenue increase to $560.80 million, the company reported a loss of $0.03 per share.

Adding to the negative sentiment, CEO Jesse E. Gary sold 60,000 shares of Century Aluminum stock in June, further fueling concerns among investors.

Despite the short interest surge and mixed analyst opinions, several institutional investors have increased their holdings in Century Aluminum in recent months. This could suggest some belief in the company’s long-term prospects, even amidst the current market uncertainty.

Century Aluminum is a leading producer of primary aluminum products in the United States and Iceland. The company also owns and operates facilities for alumina and carbon anode production.

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