Siemens Energy AG (OTCMKTS:SMEGF) Sees Significant Growth in Short Interest

Siemens Energy AG (OTCMKTS:SMEGF) saw a significant growth in short interest in June. As of June 15th, there was short interest totaling 1,408,985 shares, a growth of 235.5% from the May 31st total of 419,988 shares. Based on an average daily volume of 16,552 shares, the days-to-cover ratio is currently 85.1 days.

Siemens Energy Price Performance

Shares of SMEGF opened at $178.45 on Friday. Siemens Energy has a one year low of $98.00 and a one year high of $223.95. The business’s 50 day simple moving average is $196.33 and its 200-day simple moving average is $178.34.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Siemens Energy in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Siemens Energy currently has an average rating of “Buy”.

About Siemens Energy

Siemens Energy AG is a global energy technology company headquartered in Munich, Germany. Established in 2020 as a spin-off from Siemens AG’s Energy Management and Power and Gas divisions, the company develops and delivers equipment, solutions and services across the energy value chain. Its portfolio encompasses products for power generation, transmission and storage, serving utilities, independent power producers and industrial customers.

The company’s main business activities include the design and manufacture of gas and steam turbines, generators and compressors for conventional power plants, as well as high-voltage transformers, switchgear and grid stabilization equipment for power transmission networks.