Short Interest in Associated British Foods plc (OTCMKTS:ASBFY) Grows By 9,800.0%

Associated British Foods plc (OTCMKTS:ASBFYGet Rating) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 9,900 shares, a growth of 9,800.0% from the April 30th total of 100 shares. Based on an average daily trading volume, of 407,200 shares, the short-interest ratio is currently 0.0 days.

Several analysts have commented on the stock. Societe Generale downgraded shares of Associated British Foods from a “buy” rating to a “hold” rating in a report on Wednesday, March 2nd. Morgan Stanley downgraded shares of Associated British Foods from an “overweight” rating to an “equal weight” rating in a report on Friday, March 11th. Grupo Santander downgraded shares of Associated British Foods from an “outperform” rating to a “neutral” rating in a report on Wednesday, April 27th. The Goldman Sachs Group downgraded shares of Associated British Foods from a “neutral” rating to a “sell” rating in a report on Thursday, January 27th. Finally, Zacks Investment Research upgraded shares of Associated British Foods from a “sell” rating to a “hold” rating in a report on Tuesday, April 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Associated British Foods presently has a consensus rating of “Hold” and an average price target of $1,367.50.

Shares of OTCMKTS ASBFY traded down $0.13 during midday trading on Wednesday, reaching $20.33. The company’s stock had a trading volume of 39,819 shares, compared to its average volume of 135,302. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.86 and a quick ratio of 1.20. Associated British Foods has a fifty-two week low of $19.20 and a fifty-two week high of $34.01. The stock has a 50 day simple moving average of $21.05 and a 200-day simple moving average of $24.47.

About Associated British Foods (Get Rating)

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Sugar, Agriculture, Ingredients, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.

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