Short Interest in FirstRand Limited (OTCMKTS:FANDF) Drops By 18.6%

FirstRand Limited (OTCMKTS:FANDF) was the recipient of a significant decline in short interest during the month of December. As of December 15th, there was short interest totaling 20,773 shares, a decline of 18.6% from the November 30th total of 25,517 shares. Based on an average daily volume of 4,982 shares, the days-to-cover ratio is currently 4.2 days. Based on an average daily volume of 4,982 shares, the days-to-cover ratio is currently 4.2 days.

FirstRand Stock Performance

OTCMKTS:FANDF traded down $0.22 during trading hours on Wednesday, hitting $5.15. The company had a trading volume of 20,080 shares, compared to its average volume of 4,316. The stock has a 50-day moving average price of $4.89 and a 200 day moving average price of $4.52. FirstRand has a 52 week low of $3.38 and a 52 week high of $5.37.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of FirstRand in a report on Thursday, November 13th. They issued a “buy” rating on the stock. Investec raised shares of FirstRand from a “hold” rating to a “buy” rating in a report on Friday, September 19th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy”.

About FirstRand

FirstRand Limited is a South African financial services group headquartered in Johannesburg. Established in 1998 through the consolidation of First National Bank of South Africa and Rand Merchant Bank, the company has grown into one of the continent’s leading providers of banking and financial products. FirstRand operates a diversified financial-services platform that spans retail, commercial and corporate banking.

The group’s main operating divisions include First National Bank (FNB), which offers personal and small-business banking; Rand Merchant Bank (RMB), specializing in corporate and investment banking; WesBank, a provider of vehicle and asset finance; and Ashburton Investments, which delivers asset management and tailored investment solutions.