Orica Limited (OTCMKTS:OCLDY) Sees Large Drop in Short Interest

Orica Limited (OTCMKTS:OCLDY) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 135 shares, a decrease of 45.8% from the September 15th total of 249 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 76 shares, the days-to-cover ratio is presently 1.8 days.

Orica Price Performance

OCLDY remained flat at $14.04 during trading on Friday. The business’s fifty day simple moving average is $15.38 and its 200-day simple moving average is $15.59. Orica has a 12 month low of $12.62 and a 12 month high of $19.00.

Analyst Ratings Changes

Separately, Zacks Research cut shares of Orica from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 1st. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, the company presently has a consensus rating of “Sell”.

About Orica

Orica Limited is an Australia-based mining and infrastructure services company that develops and supplies commercial explosives, blasting systems and related technologies. Its products are used to fragment and extract rock in surface and underground mining, quarrying, construction and civil infrastructure projects.

The company also provides blasting services, digital monitoring and optimization solutions, ground support products, and specialty chemicals. Its chemical businesses serve industrial and mining applications, including water treatment and mineral processing.

Orica traces its origins to 1874 and is headquartered in Melbourne, Australia.