Associated British Foods PLC (OTCMKTS:ASBFY – Get Free Report) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totaling 542,176 shares, an increase of 727.8% from the June 15th total of 65,499 shares. Based on an average daily trading volume, of 730,569 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.1% of the shares of the stock are sold short.
Associated British Foods Trading Up 1.8%
OTCMKTS:ASBFY opened at $26.79 on Friday. The business has a 50 day moving average of $25.35 and a 200 day moving average of $25.75. Associated British Foods has a 1-year low of $23.36 and a 1-year high of $31.96. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.69 and a current ratio of 1.51.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. Zacks Research cut shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada cut shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, Associated British Foods has an average rating of “Reduce”.
About Associated British Foods
Associated British Foods plc (OTCMKTS:ASBFY) is a diversified international food, ingredients and retail group headquartered in the United Kingdom. Founded in 1935, the company operates through multiple divisions that span grocery brands, sugar production and refining, ingredient and bakery systems, agriculture and a large value-fashion retail business. Its portfolio combines branded consumer goods with industrial food and agricultural operations, giving it exposure across the consumer staples and retail sectors.
On the grocery and branded side, the group owns and markets a range of food and beverage products, including well-known tea and grocery lines, while its ingredients businesses supply yeast, bakery ingredients and other inputs to commercial bakers and food manufacturers.
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