Standard Chartered PLC (OTCMKTS:SCBFY) Sees Significant Increase in Short Interest

Standard Chartered PLC (OTCMKTS:SCBFYGet Rating) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 80,100 shares, a growth of 184.0% from the April 30th total of 28,200 shares. Based on an average trading volume of 406,700 shares, the short-interest ratio is currently 0.2 days.

SCBFY has been the topic of a number of analyst reports. Investec cut Standard Chartered from a “buy” rating to a “hold” rating in a research report on Thursday, May 12th. JPMorgan Chase & Co. raised their target price on Standard Chartered from GBX 690 ($8.68) to GBX 730 ($9.19) in a research report on Thursday, May 19th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Standard Chartered from GBX 620 ($7.80) to GBX 800 ($10.07) in a research note on Tuesday, May 3rd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $675.00.

SCBFY traded up $0.09 during trading on Friday, reaching $16.13. The company’s stock had a trading volume of 6,121 shares, compared to its average volume of 77,322. The firm has a fifty day simple moving average of $13.92 and a two-hundred day simple moving average of $13.46. Standard Chartered has a 1 year low of $10.88 and a 1 year high of $16.33.

Standard Chartered Company Profile (Get Rating)

Standard Chartered PLC, together with its subsidiaries, provides various banking products and services primarily in Asia, Africa, Europe, the Americas, and the Middle East. The company operates through two segments: Corporate, Commercial and Institutional Banking; and Consumer, Private and Business Banking.

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