ALPEK, S.A.B. de C.V. (OTCMKTS:ALPKF) Sees Large Increase in Short Interest

ALPEK, S.A.B. de C.V. (OTCMKTS:ALPKF) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totaling 1,387,200 shares, a growth of 203.2% from the September 30th total of 457,500 shares. Based on an average daily volume of 100 shares, the days-to-cover ratio is currently 13,872.0 days. Based on an average daily volume of 100 shares, the days-to-cover ratio is currently 13,872.0 days.

ALPEK Price Performance

OTCMKTS ALPKF opened at $0.59 on Wednesday. The stock’s fifty day moving average is $0.54 and its two-hundred day moving average is $0.56. ALPEK has a fifty-two week low of $0.51 and a fifty-two week high of $0.75.

Analyst Upgrades and Downgrades

Separately, Santander upgraded ALPEK to an “outperform” rating in a research report on Thursday, October 16th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

ALPEK Company Profile

Alpek, SAB. de C.V., together with its subsidiaries, operates as a petrochemical company in Mexico and internationally. It operates in two segments, Polyester, and Plastic and Chemicals. The Polyester segment produces purified terephthalic acid (PTA), an organic compound that is raw material for PET; polyethylene terephthalate (PET), a plastic resin for use in the beverage bottles, food containers, and consumer good packaging applications; recycled PET for new bottles and containers, strapping and packing supplies, and fibers for clothing and carpet; and polyester fibers, such as staple fiber for use in carpets, home furnishings, and garments; and filament for clothing, automotive interiors, and seatbelts, as well as canvases, conveyor belts, hoses, and other industrial application.