Morgan Advanced Materials (OTCMKTS:MCRUF) Sees Significant Decrease in Short Interest

Morgan Advanced Materials (OTCMKTS:MCRUF) saw a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 3,627 shares, a drop of 89.3% from the January 15th total of 33,767 shares. Based on an average daily trading volume, of 657 shares, the days-to-cover ratio is presently 5.5 days. Based on an average daily trading volume, of 657 shares, the days-to-cover ratio is presently 5.5 days.

Morgan Advanced Materials Price Performance

Morgan Advanced Materials stock remained flat at $2.97 during midday trading on Tuesday. Morgan Advanced Materials has a 52-week low of $2.37 and a 52-week high of $3.23. The company has a 50 day simple moving average of $2.90 and a 200 day simple moving average of $2.85. The company has a quick ratio of 1.11, a current ratio of 1.74 and a debt-to-equity ratio of 0.95.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada downgraded shares of Morgan Advanced Materials from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 25th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold”.

About Morgan Advanced Materials

Morgan Advanced Materials is a global engineering group specializing in the design, development and manufacture of advanced ceramic, carbon and composite materials. Founded in 1856 and headquartered in Windsor, England, the company serves a broad range of end markets by providing high-performance materials and components that enable critical applications in industries such as energy, electronics, aerospace, transportation and medical equipment.

The company’s portfolio includes engineered ceramics for thermal management and insulation, carbon materials for electrical and mechanical applications, and composite assemblies for wear-resistant and refractory uses.