Hydro One Limited (OTCMKTS:HRNNF) Sees Significant Growth in Short Interest

Hydro One Limited (OTCMKTS:HRNNFGet Rating) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 5,469,800 shares, an increase of 36.7% from the June 30th total of 4,000,300 shares. Based on an average trading volume of 3,600 shares, the days-to-cover ratio is presently 1,519.4 days.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HRNNF. Scotiabank raised their price target on Hydro One from C$34.00 to C$35.00 in a research report on Friday, May 6th. Credit Suisse Group upgraded Hydro One from an “underperform” rating to a “neutral” rating in a research report on Tuesday, June 21st. Royal Bank of Canada raised their price target on Hydro One from C$33.00 to C$37.00 in a research report on Friday, May 6th. Finally, TD Securities raised their price target on Hydro One from C$31.00 to C$34.00 in a research report on Friday, May 6th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $34.14.

Hydro One Stock Performance

Hydro One stock opened at $28.05 on Monday. The stock has a 50-day moving average price of $26.90 and a 200 day moving average price of $26.46. Hydro One has a 52 week low of $23.00 and a 52 week high of $28.29.

Hydro One Company Profile

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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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