National Australia Bank Ltd. (OTCMKTS:NABZY) Sees Large Increase in Short Interest

National Australia Bank Ltd. (OTCMKTS:NABZY) was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 65,312 shares, a growth of 317.7% from the April 30th total of 15,637 shares. Based on an average daily trading volume, of 445,864 shares, the short-interest ratio is presently 0.1 days. Currently, 0.0% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, Zacks Research downgraded shares of National Australia Bank from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $38.00.

National Australia Bank Stock Up 0.4%

OTCMKTS NABZY traded up $0.05 on Friday, reaching $13.41. 604,287 shares of the company’s stock traded hands, compared to its average volume of 266,568. The stock has a 50 day moving average price of $14.51 and a 200-day moving average price of $14.73. National Australia Bank has a fifty-two week low of $11.60 and a fifty-two week high of $18.13. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 2.88.

About National Australia Bank

National Australia Bank (OTCMKTS: NABZY) is one of Australia’s largest banking groups, offering a broad range of financial services to retail, small business, corporate and institutional customers. Its core activities include personal and business banking — such as deposits, home and business lending, credit cards and payment services — as well as wealth management, insurance, markets and specialist lending. The bank provides transaction and cash management solutions, financing and advisory services to corporate clients and institutional investors.

Headquartered in Melbourne, NAB traces its corporate origins to a 1982 merger between the National Bank of Australasia and the Commercial Banking Company of Sydney, with precursor institutions dating to the 19th century.