PT United Tractors Tbk (OTCMKTS:PUTKY) Sees Large Decline in Short Interest

PT United Tractors Tbk (OTCMKTS:PUTKY) was the recipient of a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 20,014 shares, a drop of 41.6% from the May 14th total of 34,268 shares. Based on an average daily volume of 65,123 shares, the days-to-cover ratio is currently 0.3 days.

PT United Tractors Tbk Price Performance

PUTKY opened at $25.59 on Wednesday. The business’s 50-day moving average price is $31.41 and its two-hundred day moving average price is $33.96. PT United Tractors Tbk has a 1 year low of $23.18 and a 1 year high of $39.00.

About PT United Tractors Tbk

PT United Tractors Tbk (OTCMKTS:PUTKY) is one of Indonesia’s leading heavy equipment distributors and mining contractors. Established in 1972 and headquartered in Jakarta, the company operates as a core subsidiary of the Astra International group. United Tractors’ primary activities encompass the distribution and sales of a wide range of construction and mining machinery, including Komatsu-branded excavators, bulldozers and haul trucks, as well as other reputable global equipment brands.

In addition to equipment sales, United Tractors has developed a substantial mining services division through its subsidiary PT Pamapersada Nusantara, which provides contract mining solutions for coal and mineral extraction projects across Indonesia.