Coca-Cola HBC AG (OTCMKTS:CCHGY) Sees Significant Growth in Short Interest

Coca-Cola HBC AG (OTCMKTS:CCHGYGet Rating) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 34,200 shares, an increase of 11,300.0% from the March 15th total of 300 shares. Based on an average trading volume of 117,000 shares, the short-interest ratio is currently 0.3 days.

A number of analysts have recently weighed in on the stock. Morgan Stanley cut shares of Coca-Cola HBC from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 9th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Coca-Cola HBC from GBX 3,260 ($42.48) to GBX 3,130 ($40.79) in a report on Wednesday, February 23rd. JPMorgan Chase & Co. cut shares of Coca-Cola HBC from an “overweight” rating to a “neutral” rating and lowered their price target for the company from GBX 2,500 ($32.58) to GBX 1,900 ($24.76) in a report on Monday, March 14th. Societe Generale upgraded shares of Coca-Cola HBC from a “sell” rating to a “hold” rating in a report on Wednesday, February 23rd. Finally, Zacks Investment Research cut shares of Coca-Cola HBC from a “hold” rating to a “sell” rating in a report on Thursday, February 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $1,276.54.

Shares of OTCMKTS:CCHGY opened at $20.16 on Wednesday. Coca-Cola HBC has a fifty-two week low of $18.99 and a fifty-two week high of $39.23. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 0.82. The firm’s 50 day moving average price is $25.36 and its 200 day moving average price is $30.95.

About Coca-Cola HBC (Get Rating)

Coca-Cola HBC AG engages in the production, distribution, and sale of non-alcoholic ready-to-drink beverages worldwide. The company offers sparkling soft drinks, hydration drinks, juices, ready-to-drink tea, energy drinks, coffee, water, plant-based drinks, premium spirits and flavored alcoholic beverages, and snacks.

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