Singapore Telecommunications Ltd. (OTCMKTS:SGAPY) Sees Large Drop in Short Interest

Singapore Telecommunications Ltd. (OTCMKTS:SGAPY – Get Free Report) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 4,240 shares, a drop of 85.8% from the September 15th total of 29,865 shares. Based on an average daily trading volume, of 95,640 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, Phillip Securities upgraded Singapore Telecommunications from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

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Singapore Telecommunications Trading Down 0.5%

SGAPY stock traded down $0.15 during midday trading on Friday, hitting $33.11. The company’s stock had a trading volume of 75,046 shares, compared to its average volume of 51,833. The company’s fifty day moving average price is $34.34 and its 200 day moving average price is $35.30. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 0.37. Singapore Telecommunications has a twelve month low of $31.74 and a twelve month high of $41.20.

Singapore Telecommunications Company Profile

(Get Free Report)

Singapore Telecommunications Limited, commonly known as Singtel, is a communications technology group headquartered in Singapore. The company provides mobile and fixed-line telecommunications, broadband, pay television, digital services, and information and communications technology solutions for consumers, businesses, and government organizations.

Singtel serves customers in Singapore and Australia, where it operates through Optus, a major telecommunications provider. The group also maintains regional interests and partnerships in mobile and telecommunications businesses across Asia, including operations associated with Indonesia, India, Thailand, and the Philippines.

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