Short Interest in Renault SA (OTCMKTS:RNLSY) Decreases By 74.0%

Renault SA (OTCMKTS:RNLSYGet Rating) saw a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 35,200 shares, a decrease of 74.0% from the March 15th total of 135,400 shares. Based on an average daily volume of 285,500 shares, the days-to-cover ratio is currently 0.1 days.

RNLSY has been the topic of several recent analyst reports. DZ Bank raised shares of Renault from a “sell” rating to a “buy” rating and set a €47.00 ($51.09) price objective on the stock in a research report on Monday, February 21st. Credit Suisse Group cut their price objective on shares of Renault from €37.00 ($40.22) to €24.00 ($26.09) and set a “neutral” rating on the stock in a research report on Monday, March 28th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Renault from €40.00 ($43.48) to €35.00 ($38.04) in a research note on Thursday, March 31st. Stifel Nicolaus upgraded shares of Renault from a “hold” rating to a “buy” rating in a research note on Monday, February 14th. Finally, Morgan Stanley lowered their target price on shares of Renault from €45.00 ($48.91) to €38.00 ($41.30) and set an “overweight” rating on the stock in a research note on Friday, March 25th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $35.43.

Shares of OTCMKTS:RNLSY traded down $0.01 during trading on Wednesday, hitting $4.70. The company’s stock had a trading volume of 82,977 shares, compared to its average volume of 97,503. The company has a 50-day moving average of $6.05 and a 200-day moving average of $6.80. Renault has a 12 month low of $4.55 and a 12 month high of $8.91.

About Renault (Get Rating)

Renault SA designs, manufactures, sells, and distributes vehicles in France and internationally. The company operates through Automotive, AVTOVAZ, Sales Financing, and Mobility Services segments. It offers passenger and light commercial, and electric vehicles primarily under the Renault, Dacia, Renault Samsung Motors, Alpine, LADA, Jinbei & Huaasong, and Eveasy, as well as under the Nissan, Datsun, and Infiniti brands.

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