Gruma, S.A.B. de C.V. (OTCMKTS:GPAGF – Get Free Report) was the recipient of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 301,000 shares, an increase of 21.6% from the October 15th total of 247,500 shares. Based on an average daily volume of 200 shares, the days-to-cover ratio is currently 1,505.0 days.
Analysts Set New Price Targets
Separately, Jefferies Financial Group started coverage on Gruma in a report on Monday, October 16th. They set a “buy” rating for the company.
Gruma Price Performance
Gruma, SAB. de C.V., together with its subsidiaries, produces and sells corn flour, tortillas, and other related products. The company offers corn flour, snacks and/or cereal, beer grits, and polenta; prepared corn or wheat flours for pancakes, cakes, crêpes, brownies, churros, pizza dough, cachapas, sweet arepitas, etc.; corn and wheat tortillas; tortilla chips, taco shells, and tostadas; flatbreads, including wraps, pita bread, naan, chapatti, pizza doughs, piadina, breakfast breads, and crackers; sauces/dips; palmito; pasta; marinades; and rice and oats.
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