Rexel S.A. (OTCMKTS:RXEEY) Stock Short Interest Declines 70.2%

Rexel S.A. (OTCMKTS:RXEEY) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 3,076 shares, a decrease of 70.2% from the September 30th total of 10,326 shares. Based on an average daily volume of 53,633 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley reiterated an “overweight” rating on shares of Rexel in a research note on Tuesday, October 6th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Rexel currently has an average rating of “Moderate Buy”.

Rexel Stock Performance

OTCMKTS:RXEEY opened at $37.95 on Wednesday. Rexel has a twelve month low of $33.36 and a twelve month high of $47.13. The firm has a 50-day moving average price of $40.45 and a two-hundred day moving average price of $41.76.

About Rexel

Rexel is a France-based distributor of electrical products and related solutions for residential, commercial and industrial customers. The company supplies equipment used in electrical installations, including wiring and cabling, circuit protection, lighting, automation and control systems, tools, safety products, and heating, ventilation and air-conditioning equipment.

Rexel serves electrical contractors, industrial businesses, construction companies, utilities and other professional customers through branch networks, sales teams and digital commerce platforms.