Singapore Telecommunications Ltd. (OTCMKTS:SGAPY) Shares Shorted: Short Interest Up 100.6% in October

Singapore Telecommunications Ltd. (OTCMKTS:SGAPY) saw a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 8,504 shares, a growth of 100.6% from the September 30th total of 4,240 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 123,945 shares, the short-interest ratio is presently 0.1 days.

Singapore Telecommunications Stock Up 1.6%

OTCMKTS SGAPY opened at $32.68 on Friday. Singapore Telecommunications has a 52-week low of $30.58 and a 52-week high of $41.20. The firm’s 50 day moving average price is $33.79 and its 200-day moving average price is $35.72. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.37.

Wall Street Analysts Forecast Growth

Separately, Phillip Securities upgraded Singapore Telecommunications from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy”.

About Singapore Telecommunications

Singapore Telecommunications Limited, commonly known as Singtel, is a Singapore-based communications technology group providing telecommunications and digital services to consumers, businesses and governments. Its offerings include mobile and fixed-line communications, broadband connectivity, digital television, cloud services, cybersecurity, information and communications technology solutions, and data-center services.

Singtel operates primarily in Singapore and Australia, where it owns Optus, a major telecommunications provider.