Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY) Sees Large Increase in Short Interest

Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 96,909 shares, a growth of 142.1% from the July 15th total of 40,027 shares. Based on an average daily trading volume, of 544,827 shares, the short-interest ratio is currently 0.2 days. Approximately 0.0% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Ping An Insurance Co. of China from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Ping An Insurance Co. of China presently has an average rating of “Strong Buy”.

Ping An Insurance Co. of China Stock Performance

OTCMKTS PNGAY traded down $0.10 on Friday, hitting $14.01. The stock had a trading volume of 144,892 shares, compared to its average volume of 197,458. The company’s 50-day moving average is $14.10 and its two-hundred day moving average is $15.63. Ping An Insurance Co. of China has a one year low of $12.84 and a one year high of $18.92. The stock has a market cap of $128.05 billion, a price-to-earnings ratio of 6.97 and a beta of 0.35. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.60.

About Ping An Insurance Co. of China

Ping An Insurance Company of China, Ltd., commonly known as Ping An, is a diversified financial services conglomerate headquartered in Shenzhen, China. Founded in 1988 as one of the country’s first joint-stock insurance companies, Ping An has developed broad capabilities across life insurance, property and casualty insurance, health insurance and annuity products. The company serves individual and corporate customers with a range of protection and savings products, including life policies, auto and property coverage, commercial insurance solutions and retirement-oriented offerings.

Beyond traditional insurance underwriting, Ping An operates an integrated financial services platform that includes retail and corporate banking, asset and wealth management, securities brokerage and investment services.