Standard Chartered PLC (OTCMKTS:SCBFY) Short Interest Down 43.9% in June

Standard Chartered PLC (OTCMKTS:SCBFY) was the target of a large drop in short interest in June. As of June 30th, there was short interest totaling 24,666 shares, a drop of 43.9% from the June 15th total of 43,966 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily volume of 275,930 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of Standard Chartered from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Standard Chartered has a consensus rating of “Strong Buy”.

Standard Chartered Price Performance

Standard Chartered stock opened at $58.09 on Thursday. Standard Chartered has a fifty-two week low of $34.97 and a fifty-two week high of $58.20. The firm has a fifty day moving average price of $53.75 and a two-hundred day moving average price of $49.91.

About Standard Chartered

Standard Chartered PLC is a leading international banking group headquartered in London, with a heritage dating back to the 19th century. The bank was formed in 1969 through the merger of Standard Bank of British South Africa and Chartered Bank of India, Australia and China, combining deep roots in emerging markets with a global footprint. Over more than 150 years of operations, Standard Chartered has built a reputation for expertise in trade finance, corporate banking and cross-border transactions.

The company offers a broad range of financial products and services, including corporate and institutional banking, retail banking, wealth management, treasury and capital markets solutions.