Prepare Yourself for Liftoff: CorEnergy Infrastructure Trust Inc. (CORR)

CorEnergy Infrastructure Trust Inc. (NYSE: CORR) stock jumped 11.76% on Thursday to $1.14 against a previous-day closing price of $1.02. With 3.34 million shares changed hands, the volume of the stock remained heavier than its average volume of 99910.0 shares. During the session, the REIT – Specialty company that operates in wider Real Estate sector, reached to the highest price of $1.3500 whereas the lowest price it dropped to was $0.9500. The 52-week range on CORR shows that it touched its highest point at $3.48 and its lowest point at $0.96 during that stretch. It currently has a 1-year price target of $1.00. Beta for the stock currently stands at 1.27.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CORR was up-trending over the past week, with a rise of 10.68%, but this was up by 11.76% over a month. Three-month performance dropped to -27.85% while six-month performance fell -50.00%. The stock lost -51.79% in the past year, while it has lost -45.45% so far this year. EPS is expected to grow by 2.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -21.50%.

Float and Shares Shorts:

At present, 15.96 million CORR shares are outstanding with a float of 14.37 million shares on hand for trading. On May 14, 2023, short shares totaled 0.24 million, which was 1.48% higher than short shares on Apr 13, 2023. In addition to Mr. David John Schulte CFA, J.D. as the firm’s Co-Founder, CEO & Chairman, Mr. Robert L. Waldron serves as its CFO & Pres.

Institutional Ownership:

Through their ownership of 13.33% of CORR’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.42% of CORR, in contrast to 6.04% held by mutual funds. Shares owned by individuals account for 5.16%. As the largest shareholder in CORR with 3.44% of the stake, The Vanguard Group, Inc. holds 528,251 shares worth 528,251. A second-largest stockholder of CORR, LSV Asset Management, holds 372,287 shares, controlling over 2.42% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in CORR, holding 222,161 shares or 1.45% stake. With a 1.91% stake in CORR, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 293,803 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.53% of CORR stock, is the second-largest Mutual Fund holder. It holds 234,448 shares valued at 0.24 million. Fidelity Extended Market Index Fu holds 0.58% of the stake in CORR, owning 88,715 shares worth 92264.0.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, CORR reported revenue of $31.52M and operating income of $7.07M. The EBITDA in the recently reported quarter was $11.61M and diluted EPS was -$0.08.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CORR since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CORR analysts setting a high price target of $1.00 and a low target of $1.00, the average target price over the next 12 months is $1.00. Based on these targets, CORR could drop -12.28% to reach the target high and fall by -12.28% to reach the target low. Reaching the average price target will result in a decline of -12.28% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded CORR stock several times over the past three months with 4 Buys and 4 Sells. In these transactions, 57,132 shares were bought while 18,879 shares were sold. The number of buy transactions has increased to 19 while that of sell transactions has risen to 4 over the past year. The total number of shares bought during that period was 137,949 while 18,879 shares were sold.

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