CSI Compressco LP (CCLP) Stock Faces Higher Risks Forward After Forming Bearish Double Bottom Chart Pattern

September 12, 2017 - By test

The chart of CSI Compressco LP (CCLP) shows a double bottom with $4.36 target or 5.00 % below today’s $4.59 share price. The 9 months chart pattern indicates high risk for the $162.92 million company. It was reported on Sep, 12 by Finviz.com. If the $4.36 price target is reached, the company will be worth $8.15 million less. Double bottoms are rare but powerful chart patterns.

About 16,424 shares traded. CSI Compressco LP (NASDAQ:CCLP) has declined 29.05% since September 12, 2016 and is downtrending. It has underperformed by 45.75% the S&P500.

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. Wells Fargo initiated the shares of CCLP in report on Wednesday, September 2 with “Market Perform” rating. The company was maintained on Thursday, July 20 by Stifel Nicolaus. As per Friday, August 7, the company rating was maintained by RBC Capital Markets. Stifel Nicolaus maintained the shares of CCLP in report on Thursday, August 24 with “Hold” rating. The stock has “Outperform” rating by Raymond James on Monday, October 5. The company was downgraded on Friday, January 22 by Stifel Nicolaus. On Sunday, August 20 the stock rating was maintained by RBC Capital Markets with “Hold”. The company was maintained on Wednesday, August 23 by Bank of America. The company was upgraded on Friday, September 23 by Janney Capital.

More notable recent CSI Compressco LP (NASDAQ:CCLP) news were published by: Prnewswire.com which released: “CSI Compressco LP Announces Quarterly Distribution and Schedule for Fourth …” on January 20, 2017, also Seekingalpha.com with their article: “Why CSI Compressco LP’s 50% Distribution Cut Didn’t Have To Be A Surprise” published on April 28, 2017, Nasdaq.com published: “CSI Compressco LP (CCLP) Ex-Dividend Date Scheduled for January 30, 2017” on October 27, 2016. More interesting news about CSI Compressco LP (NASDAQ:CCLP) were released by: Prnewswire.com and their article: “CSI Compressco LP Announces First Quarter 2017 Results” published on May 09, 2017 as well as Prnewswire.com‘s news article titled: “CSI Compressco LP Announces Closing Of $50 Million Private Placement Of Series …” with publication date: August 08, 2016.

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