Rheinmetall AG (OTCMKTS:RNMBY – Get Rating) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 3,500 shares, a growth of 483.3% from the March 15th total of 600 shares. Based on an average daily volume of 32,700 shares, the days-to-cover ratio is presently 0.1 days.
A number of equities research analysts have recently commented on RNMBY shares. UBS Group lifted their price target on shares of Rheinmetall from €110.00 ($119.57) to €121.00 ($131.52) and gave the stock a “buy” rating in a report on Wednesday, March 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Rheinmetall from €120.00 ($130.43) to €190.00 ($206.52) and gave the stock a “buy” rating in a research note on Friday, March 18th. Morgan Stanley boosted their target price on shares of Rheinmetall from €121.00 ($131.52) to €122.00 ($132.61) and gave the company an “overweight” rating in a research note on Wednesday, February 16th. AlphaValue raised shares of Rheinmetall from a “reduce” rating to a “buy” rating in a report on Wednesday, March 2nd. Finally, Berenberg Bank boosted their price objective on Rheinmetall from €115.00 ($125.00) to €155.00 ($168.48) in a report on Wednesday, March 2nd.
Shares of RNMBY traded up $1.53 during mid-day trading on Tuesday, hitting $43.94. The company’s stock had a trading volume of 10,005 shares, compared to its average volume of 9,916. Rheinmetall has a one year low of $17.56 and a one year high of $46.07. The stock’s 50-day moving average is $32.34 and its two-hundred day moving average is $24.01.
Rheinmetall AG operates as a holding company. The firm engages in the production of automotive components and defense equipment. It operates through the following segments: Defence and Automotive. The Defence segment offers vehicle, infantry equipment, protection and weapon systems, air defense systems, function sequence networking as well as simulation hardware and software.
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