Kongsberg Gruppen ASA (OTCMKTS:NSKFF – Get Rating) was the recipient of a significant decline in short interest in May. As of May 15th, there was short interest totalling 11,200 shares, a decline of 41.7% from the April 30th total of 19,200 shares. Based on an average trading volume of 400 shares, the days-to-cover ratio is currently 28.0 days.
Separately, Pareto Securities upgraded Kongsberg Gruppen ASA from a “sell” rating to a “hold” rating in a research note on Wednesday, May 11th.
NSKFF traded up $0.38 on Friday, hitting $36.72. The company had a trading volume of 413 shares, compared to its average volume of 462. The stock has a fifty day moving average price of $39.43 and a 200-day moving average price of $35.21. Kongsberg Gruppen ASA has a 12-month low of $25.00 and a 12-month high of $45.67.
Kongsberg Gruppen ASA, together with its subsidiaries, provides high-tech systems and solutions primarily to customers in the maritime and defense markets. The company operates through three segments, Kongsberg Maritime (KM), and Kongsberg Defence & Aerospace(KDA), and Kongsberg Digital (KDI). The KM segment offers solutions and systems for bridge and control systems, which include dynamic positioning, propulsion control, and navigation, as well as automation systems; energy solutions and ship design services; and propellers, thrusters, water jet systems, and systems for offshore manoeuvring of maritime vessels.
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