Wacker Chemie AG (OTCMKTS:WKCMF) Short Interest Down 40.3% in March

Wacker Chemie AG (OTCMKTS:WKCMFGet Rating) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 167,100 shares, a drop of 40.3% from the March 15th total of 279,700 shares. Based on an average trading volume of 500 shares, the days-to-cover ratio is currently 334.2 days.

Shares of OTCMKTS:WKCMF opened at $191.25 on Friday. Wacker Chemie has a 12 month low of $131.00 and a 12 month high of $196.60. The company’s fifty day simple moving average is $157.94 and its 200 day simple moving average is $164.38.

A number of equities analysts have issued reports on the stock. HSBC cut shares of Wacker Chemie from a “buy” rating to a “hold” rating in a research note on Wednesday, March 9th. Barclays lifted their price target on shares of Wacker Chemie from €177.00 ($192.39) to €197.00 ($214.13) and gave the stock an “overweight” rating in a research report on Tuesday. Oddo Bhf raised shares of Wacker Chemie from a “neutral” rating to an “outperform” rating in a research report on Thursday, March 31st. Societe Generale raised shares of Wacker Chemie from a “sell” rating to a “hold” rating in a research report on Thursday, February 17th. Finally, Warburg Research raised shares of Wacker Chemie to a “buy” rating and set a $191.00 price target on the stock in a research report on Tuesday, April 5th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $182.20.

About Wacker Chemie (Get Rating)

Wacker Chemie AG, together with its subsidiaries, provides chemical products worldwide. It operates through four divisions: Wacker Silicones, Wacker Polymers, Wacker Biosolutions, and Wacker Polysilicon. The Wacker Silicones division offers silanes, siloxanes, silicone fluids, silicone emulsions, silicone elastomers, silicone resins, and pyrogenic silicas for use in construction, electronics, automotive, health, and renewable energy industries.

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