Magazine Luiza S.A. (OTCMKTS:MGLUY) Stock Short Interest Falls 33.7%

Magazine Luiza S.A. (OTCMKTS:MGLUY – Get Free Report) saw a significant decrease in short interest in October. As of October 15th, there was short interest totaling 7,032 shares, a decrease of 33.7% from the September 30th total of 10,611 shares. Based on an average trading volume of 6,175 shares, the short-interest ratio is presently 1.1 days.

Analysts Set New Price Targets

Separately, Citigroup upgraded shares of Magazine Luiza from a “neutral” rating to a “buy” rating in a report on Tuesday, October 20th. One investment analyst has rated the stock with a Buy rating. According to MarketBeat.com, the stock presently has an average rating of “Buy”.

Check Out Our Latest Report on MGLUY

Magazine Luiza Trading Up 7.7%

OTCMKTS:MGLUY opened at $4.04 on Tuesday. Magazine Luiza has a one year low of $2.88 and a one year high of $10.75. The firm’s fifty day moving average price is $5.83 and its two-hundred day moving average price is $5.71.

About Magazine Luiza

(Get Free Report)

Magazine Luiza SA, commonly known as Magalu, is a Brazilian retail and technology company that operates through an omnichannel platform combining physical stores, e-commerce, mobile applications and digital marketplaces. The company serves consumers primarily in Brazil and sells a broad range of products, including consumer electronics, appliances, furniture, mobile phones, computers, home goods, beauty products and other general merchandise.

In addition to selling products directly, Magalu operates a marketplace that enables third-party retailers and brands to reach customers through its digital channels.

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