Short Interest in Grupo Bimbo, S.A.B. de C.V. (OTCMKTS:BMBOY) Declines By 71.3%

Grupo Bimbo, S.A.B. de C.V. (OTCMKTS:BMBOY) was the recipient of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totaling 169 shares, a decrease of 71.3% from the December 31st total of 588 shares. Based on an average daily volume of 1,606 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 1,606 shares, the days-to-cover ratio is currently 0.1 days.

Analysts Set New Price Targets

Separately, Barclays raised shares of Grupo Bimbo from an “underweight” rating to an “overweight” rating in a research note on Tuesday, December 2nd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Grupo Bimbo currently has a consensus rating of “Buy”.

Grupo Bimbo Price Performance

OTCMKTS BMBOY opened at $13.08 on Wednesday. The firm’s 50-day moving average is $13.21 and its two-hundred day moving average is $13.08. Grupo Bimbo has a 12 month low of $10.38 and a 12 month high of $14.88.

About Grupo Bimbo

Grupo Bimbo, SAB. de C.V. (OTCMKTS:BMBOY) is a Mexican multinational bakery products company founded in 1945 and headquartered in Mexico City. Over the decades, it has grown into one of the world’s largest baking firms by sales volume and operates as a publicly traded company on the Mexican Stock Exchange with an American depositary receipt program trading over the counter. The company’s origins trace back to a small bakery in Mexico City, and it has since expanded its footprint through organic growth and strategic acquisitions.

The company’s core business encompasses the production, marketing and distribution of a broad array of baked goods.