Fletcher Building Limited (OTCMKTS:FRCEF) Sees Large Decline in Short Interest

Fletcher Building Limited (OTCMKTS:FRCEF) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 720,300 shares, a drop of 15.9% from the March 15th total of 856,100 shares. Based on an average trading volume of 0 shares, the short-interest ratio is currently ∞ days.

Fletcher Building Stock Performance

Shares of Fletcher Building stock opened at $1.70 on Wednesday. Fletcher Building has a 1-year low of $1.53 and a 1-year high of $2.51. The business has a 50-day moving average price of $1.70 and a two-hundred day moving average price of $1.69.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group set a $2.85 target price on Fletcher Building and gave the stock a “sell” rating in a research report on Wednesday, March 12th.

Fletcher Building Company Profile

Fletcher Building Limited, together with its subsidiaries, manufactures and distributes building products in New Zealand, Australia, and internationally. It operates through Building Products, Distribution, Concrete, Residential and Development, Construction, and Australia segments. The Building Products segment manufactures, markets, and distributes building products used to build homes; and buildings and infrastructure, including insulations, plasterboards, laminate surfaces, and plastic and concrete piping for the commercial and residential markets.