Acerinox, S.A. (OTCMKTS:ANIOY) Sees Significant Drop in Short Interest

Acerinox, S.A. (OTCMKTS:ANIOYGet Rating) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 800 shares, a drop of 78.9% from the March 15th total of 3,800 shares. Based on an average daily trading volume, of 9,400 shares, the short-interest ratio is currently 0.1 days.

Shares of OTCMKTS ANIOY opened at $5.25 on Thursday. The stock has a market capitalization of $2.84 billion, a P/E ratio of 7.72 and a beta of 1.63. Acerinox has a one year low of $5.05 and a one year high of $7.35. The firm’s 50 day simple moving average is $5.87 and its two-hundred day simple moving average is $6.22. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.99 and a quick ratio of 1.09.

ANIOY has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Acerinox from €20.00 ($21.74) to €20.25 ($22.01) in a report on Tuesday, March 1st. Credit Suisse Group raised shares of Acerinox from a “neutral” rating to an “outperform” rating in a report on Thursday, March 24th. Morgan Stanley dropped their price objective on shares of Acerinox from €16.50 ($17.93) to €11.70 ($12.72) and set an “overweight” rating for the company in a report on Wednesday, March 23rd. Finally, Zacks Investment Research raised Acerinox from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a research note on Wednesday, March 9th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Acerinox presently has a consensus rating of “Buy” and an average target price of $12.65.

About Acerinox (Get Rating)

Acerinox, SA, through its subsidiaries, manufactures, transforms, and markets stainless steel products in Spain, the Americas, Africa, Asia, Oceania, and Europe. The company offers flat products, including coil cold rollings, hot rolled and black coils, teardrop steel or coils, and hot and cold rolled sheets, as well as roughing materials, discs, billets, and plates.

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