Associated British Foods PLC (OTCMKTS:ASBFY) Sees Large Increase in Short Interest

Associated British Foods PLC (OTCMKTS:ASBFY) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 13,533 shares, an increase of 54.0% from the July 15th total of 8,786 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 64,308 shares, the short-interest ratio is currently 0.2 days.

Analysts Set New Price Targets

Separately, Zacks Research downgraded shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Associated British Foods presently has an average rating of “Reduce”.

Associated British Foods Price Performance

OTCMKTS ASBFY opened at $27.34 on Wednesday. Associated British Foods has a fifty-two week low of $23.36 and a fifty-two week high of $31.96. The business has a fifty day moving average of $26.83 and a 200-day moving average of $25.85. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.51 and a quick ratio of 0.69.

Associated British Foods Company Profile

Associated British Foods plc (OTCMKTS:ASBFY) is a diversified international food, ingredients and retail group headquartered in the United Kingdom. Founded in 1935, the company operates through multiple divisions that span grocery brands, sugar production and refining, ingredient and bakery systems, agriculture and a large value-fashion retail business. Its portfolio combines branded consumer goods with industrial food and agricultural operations, giving it exposure across the consumer staples and retail sectors.

On the grocery and branded side, the group owns and markets a range of food and beverage products, including well-known tea and grocery lines, while its ingredients businesses supply yeast, bakery ingredients and other inputs to commercial bakers and food manufacturers.