Kingspan Group plc (OTCMKTS:KGSPY) Sees Large Increase in Short Interest

Kingspan Group plc (OTCMKTS:KGSPY) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 11,735 shares, a growth of 1,969.7% from the September 30th total of 567 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 25,899 shares, the days-to-cover ratio is currently 0.5 days.

Kingspan Group Stock Performance

Shares of KGSPY opened at $102.92 on Tuesday. The business’s fifty day moving average price is $113.94 and its 200 day moving average price is $96.96. Kingspan Group has a 12-month low of $71.63 and a 12-month high of $124.91.

Wall Street Analysts Forecast Growth

KGSPY has been the subject of a number of recent research reports. Jefferies Financial Group upgraded Kingspan Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 18th. Zacks Research lowered Kingspan Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy”.

About Kingspan Group

Kingspan Group plc is an Ireland-based building materials company that develops products and systems designed to improve the energy efficiency, performance and sustainability of buildings. Its offerings are used in commercial, industrial, residential and infrastructure construction projects.

The company’s products include insulated panels for walls and roofs, insulation boards, building envelope systems, daylighting and ventilation solutions, raised access floors, and water and energy management systems.