CBL International Limited (NASDAQ:BANL) Sees Significant Increase in Short Interest

CBL International Limited (NASDAQ:BANL) saw a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 8,600 shares, agrowthof186.7% from the July 15th total of 3,000 shares. Based on an average trading volume of 642,600 shares, the days-to-cover ratio is currently 0.0 days. Approximately0.2% of the company’s shares are sold short. Approximately0.2% of the company’s shares are sold short. Based on an average trading volume of 642,600 shares, the days-to-cover ratio is currently 0.0 days.

CBL International Price Performance

Shares of NASDAQ BANL opened at $0.67 on Friday. The business’s 50 day moving average is $0.79 and its two-hundred day moving average is $0.94. CBL International has a 1-year low of $0.55 and a 1-year high of $1.35.

CBL International announced that its Board of Directors has authorized a stock buyback program on Tuesday, June 3rd that authorizes the company to buyback $5.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 20% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

CBL International Company Profile

CBL International Limited, a marine fuel logistics company, provides vessel refueling solutions in Malaysia, Hong Kong, China, South Korea, Singapore, and internationally. It facilitates vessel refueling between ship operators and local physical distributors/traders by purchasing marine fuel, including both fossil fuel and alternative fuel.