Short Interest in Akzo Nobel NV (OTCMKTS:AKZOY) Grows By 617.2%

Akzo Nobel NV (OTCMKTS:AKZOY) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 179,385 shares, a growth of 617.2% from the August 15th total of 25,013 shares. Based on an average trading volume of 313,837 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.0% of the company’s shares are short sold.

Akzo Nobel Stock Performance

AKZOY stock opened at $22.62 on Friday. The firm has a market cap of $11.62 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 1.81 and a beta of 1.18. The company has a current ratio of 1.88, a quick ratio of 1.49 and a debt-to-equity ratio of 1.09. The stock has a 50-day moving average price of $23.08 and a 200-day moving average price of $21.67. Akzo Nobel has a 1-year low of $18.04 and a 1-year high of $25.99.

Akzo Nobel (OTCMKTS:AKZOY) last announced its earnings results on Wednesday, July 22nd. The basic materials company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.04). The business had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.96 billion. Akzo Nobel had a net margin of 6.49% and a return on equity of 12.77%. As a group, equities research analysts expect that Akzo Nobel will post 1.47 earnings per share for the current year.

Analysts Set New Price Targets

AKZOY has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Akzo Nobel in a report on Monday, June 29th. Zacks Research upgraded shares of Akzo Nobel from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Citigroup initiated coverage on shares of Akzo Nobel in a research note on Friday, June 5th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold”.

About Akzo Nobel

Akzo Nobel N.V. is a Netherlands-based multinational company that develops, manufactures and markets paints and coatings. Its products are used in residential, commercial and industrial applications, including architectural paints, protective coatings, marine coatings, powder coatings, automotive refinishing products and specialty coatings.

The company’s brand portfolio includes Dulux, International, Sikkens, Interpon and other regional and professional brands. Its coatings are applied to buildings, infrastructure, ships, vehicles, industrial equipment, consumer goods and other surfaces to provide decoration, protection and improved durability.

Akzo Nobel traces its history to the 17th and 18th centuries and took its present form following the 1994 merger of Akzo and Nobel Industries.