Hydro One Limited (OTCMKTS:HRNNF) Short Interest Up 67.9% in May

Hydro One Limited (OTCMKTS:HRNNFGet Rating) saw a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 2,781,000 shares, an increase of 67.9% from the April 30th total of 1,656,700 shares. Based on an average trading volume of 3,200 shares, the short-interest ratio is currently 869.1 days.

Shares of HRNNF traded down $0.17 during trading hours on Friday, reaching $27.73. 200 shares of the stock traded hands, compared to its average volume of 4,893. The stock has a fifty day simple moving average of $27.25 and a 200 day simple moving average of $25.80. Hydro One has a 52 week low of $23.00 and a 52 week high of $28.27.

Several equities analysts recently commented on HRNNF shares. Credit Suisse Group downgraded shares of Hydro One from a “neutral” rating to an “underperform” rating in a research note on Tuesday, April 12th. Scotiabank increased their price objective on shares of Hydro One from C$34.00 to C$35.00 in a research note on Friday, May 6th. Royal Bank of Canada upped their price target on shares of Hydro One from C$33.00 to C$37.00 in a research report on Friday, May 6th. Finally, TD Securities increased their target price on shares of Hydro One from C$31.00 to C$34.00 in a research note on Friday, May 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Hydro One has a consensus rating of “Hold” and an average price target of $34.14.

Hydro One Company Profile (Get Rating)

Hydro One Limited, through its subsidiaries, operates as an electricity transmission and distribution company in Ontario. It operates through three segments: Transmission Business, Distribution Business, and Other. The company owns and operates approximately 30,000 circuit kilometers of high-voltage transmission lines and 125,000 circuit kilometers of primary low-voltage distribution network.

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