Orica Limited (OTCMKTS:OCLDY) Sees Significant Decline in Short Interest

Orica Limited (OTCMKTS:OCLDY) was the target of a large drop in short interest during the month of July. As of July 15th, there was short interest totaling 713 shares, a drop of 42.1% from the June 30th total of 1,232 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 159 shares, the short-interest ratio is presently 4.5 days.

Analysts Set New Price Targets

Separately, Zacks Research raised Orica to a “hold” rating in a research note on Thursday, May 21st. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Orica Stock Performance

OCLDY stock remained flat at $17.00 during midday trading on Wednesday. 5 shares of the company traded hands, compared to its average volume of 625. The firm has a market cap of $7.88 billion and a price-to-earnings ratio of 10.10. Orica has a 1-year low of $12.62 and a 1-year high of $19.00. The company’s fifty day moving average price is $16.56 and its two-hundred day moving average price is $15.97.

About Orica

Orica Limited is a leading global provider of commercial explosives and blasting systems to the mining, quarrying and construction industries. Headquartered in Melbourne, Australia, the company designs, manufactures and distributes a comprehensive range of bulk and packaged explosives, initiating systems, detonators and digital blasting solutions. Its offerings include ground support products, ventilation systems in underground mining and specialty chemicals that support safe and efficient rock fragmentation and material handling.

In addition to explosives, Orica supplies sodium cyanide for gold extraction, bulk emulsions and specialty ammonium nitrate products.