Glencore plc (OTCMKTS:GLCNF) Short Interest Down 70.3% in February

Glencore plc (OTCMKTS:GLCNF) saw a significant decline in short interest in the month of February. As of February 13th, there was short interest totaling 1,766,096 shares, a decline of 70.3% from the January 29th total of 5,954,274 shares. Based on an average trading volume of 142,216 shares, the short-interest ratio is currently 12.4 days. Based on an average trading volume of 142,216 shares, the short-interest ratio is currently 12.4 days.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank set a $12.90 target price on shares of Glencore in a report on Wednesday, December 17th.

Glencore Price Performance

Shares of Glencore stock traded down $0.15 during trading on Thursday, reaching $7.06. 53,341 shares of the company’s stock were exchanged, compared to its average volume of 126,213. Glencore has a 1-year low of $2.88 and a 1-year high of $7.35. The firm’s 50-day moving average price is $6.33 and its 200 day moving average price is $5.13.

About Glencore

Glencore plc is a global leader in the production, marketing and trading of commodities. Through its diversified portfolio, the company operates in two principal segments: Metals & Minerals, and Energy Products. In Metals & Minerals, Glencore produces and trades a wide array of industrial metals, including copper, zinc, nickel, cobalt, lead, aluminum, iron ore and coal. Its Energy Products segment encompasses the sourcing, storage and distribution of crude oil, refined products, natural gas and liquefied petroleum gas, while also managing a significant agricultural trading business that handles grains, oilseeds and sugar.

Founded in 1974 by Marc Rich as Marc Rich + Co International, the company rebranded to Glencore in 1994 and has since expanded through both organic growth and strategic acquisitions.