Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.31, read 2026-10-30
Ethical does not pass the values gate
Price118.62 USD
Ethical score70.0/100
Our investment reviews on this name
2026-11-01Read Accumulation126.76-6.4% to today Markdown gives way to Accumulation
2026-10-27Read Markdown124.31-4.6% to today ✓Distribution gives way to Markdown first Markdown read since October
2026-10-25Read Distribution127.58-7.0% to today ✓Markdown gives way to Distribution
2026-10-11Read Markdown128.85-7.9% to today ✓Distribution gives way to Markdown with volume flow in agreement
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
CVR Partners, LP holds its Accumulation at $118.62. Consolidating, no directional conviction, held for 40 days.
As held on the ledger · 2026-11-03
Phase
Accumulation
Quantitative state
Consolidating, no directional conviction, held for 40 days
Price at the screen
$118.62
Valuation
8.32 trailing · -19.79 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.24
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
59.22%
Below 33%
Interest-bearing debt is 59.2% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
13.22%
Below 49%
Money owed to the company is 13.2% of assets, under the 49% limit.
Pass
Revenue purity
0.91%
Below 5%
Only 0.9% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
CVR Partners, LP's business is in a permissible area, but its interest-bearing debt is about 59% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-11-04. It updates when the underlying figures move, and past reads are kept below.
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Today UAN does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
UAN trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-03Accumulation$126.76+0.0%Entry 17
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 8% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 60%. Our forward projection puts the odds of a 10% gain over the next month near 29%. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-02Accumulation$126.76+0.0%Entry 16
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 8% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 60%. Our forward projection puts the odds of a 10% gain over the next month near 29%. It reported earnings in this window, a natural checkpoint for the thesis.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 2.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 8% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 60%. Our forward projection puts the odds of a 10% gain over the next month near 29%. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-31Markdown$124.31+0.0%Entry 14
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 8% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 60%. Our forward projection puts the odds of a 10% gain over the next month near 29%. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-30Markdown$124.31+0.0%Entry 13
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 8% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 60%. Our forward projection puts the odds of a 10% gain over the next month near 29%. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-29Markdown$124.31+0.0%Entry 12
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 8% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 60%. Our forward projection puts the odds of a 10% gain over the next month near 29%. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-28Markdown$124.31+0.0%Entry 11
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 8% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 60%. Our forward projection puts the odds of a 10% gain over the next month near 29%. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-27Markdown · changed$124.31-2.6%Entry 10
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 2.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 8% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 60%. Our forward projection puts the odds of a 10% gain over the next month near 29%. It reported earnings in this window, a natural checkpoint for the thesis.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 11% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 60%. Our forward projection puts the odds of a 10% gain over the next month near 29%.
2026-10-18Markdown$127.58-1.0%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 1.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 20% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 60%. Our forward projection puts the odds of a 10% gain over the next month near 29%.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
