Swedish Match AB (publ) (OTCMKTS:SWMAY) Sees Large Drop in Short Interest

Swedish Match AB (publ) (OTCMKTS:SWMAYGet Rating) was the recipient of a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 10,800 shares, a drop of 88.3% from the April 30th total of 92,000 shares. Based on an average daily trading volume, of 832,200 shares, the short-interest ratio is presently 0.0 days.

SWMAY traded up $0.07 on Wednesday, hitting $10.38. The company had a trading volume of 103,257 shares, compared to its average volume of 207,719. Swedish Match AB has a 12-month low of $6.00 and a 12-month high of $10.41. The business’s fifty day simple moving average is $8.34 and its 200 day simple moving average is $7.85. The company has a market cap of $15.82 billion, a PE ratio of 23.58 and a beta of 0.55.

The company also recently declared a dividend, which was paid on Thursday, May 19th. Investors of record on Friday, April 29th were issued a $0.0663 dividend. The ex-dividend date of this dividend was Thursday, April 28th. This represents a dividend yield of 0.81%. Swedish Match AB (publ)’s payout ratio is 13.64%.

A number of brokerages have weighed in on SWMAY. Zacks Investment Research upgraded Swedish Match AB (publ) from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a report on Tuesday. Credit Suisse Group upped their price objective on Swedish Match AB (publ) from SEK 88 to SEK 106 and gave the stock an “outperform” rating in a report on Tuesday, May 17th. JPMorgan Chase & Co. raised Swedish Match AB (publ) from an “underweight” rating to a “neutral” rating in a research report on Tuesday, May 10th. Jefferies Financial Group raised Swedish Match AB (publ) from an “underperform” rating to a “hold” rating in a research report on Thursday, May 19th. Finally, UBS Group downgraded Swedish Match AB (publ) from a “buy” rating to a “neutral” rating in a research note on Monday, May 16th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $84.33.

Swedish Match AB (publ) Company Profile (Get Rating)

Swedish Match AB (publ) develops, manufactures, markets, and sells snus and moist snuff, lights, and other tobacco products in Scandinavia, the United States, and internationally. The company operates through Smokefree, Cigars, and Lights segments. It provides snus and pouch products, nicotine pouches, nicotine free products, and moist snuff under the General, Göteborgs Rapé, Kaliber, Kronan, Ettan, Grov, Catch, G.3, The Lab, Nick & Johnny, Thunder, VOLT, Swave, ZYN, G.4, Onico, Qvitt, Longhorn, and Timber Wolf brand names.

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