Standard Chartered PLC (OTCMKTS:SCBFF) Sees Significant Growth in Short Interest

Standard Chartered PLC (OTCMKTS:SCBFF) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 173,937 shares, an increase of 19.9% from the December 31st total of 145,047 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 14,426 shares, the days-to-cover ratio is presently 12.1 days. Based on an average trading volume of 14,426 shares, the days-to-cover ratio is presently 12.1 days. Approximately 0.0% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of research firms recently commented on SCBFF. Zacks Research downgraded Standard Chartered from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 12th. Morgan Stanley reissued an “overweight” rating on shares of Standard Chartered in a report on Wednesday, January 14th. Citigroup restated a “neutral” rating on shares of Standard Chartered in a research report on Friday, January 9th. Finally, The Goldman Sachs Group raised shares of Standard Chartered from a “hold” rating to a “buy” rating in a report on Thursday, December 11th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Standard Chartered has a consensus rating of “Moderate Buy”.

Standard Chartered Stock Up 4.6%

Standard Chartered stock opened at $26.20 on Tuesday. The stock has a market cap of $59.56 billion, a PE ratio of 13.93 and a beta of 0.52. Standard Chartered has a 12-month low of $10.65 and a 12-month high of $26.45. The business’s 50-day moving average price is $23.89 and its two-hundred day moving average price is $20.84.

Standard Chartered Company Profile

Standard Chartered plc is a British multinational banking and financial services company headquartered in London. The firm traces its modern form to the 1969 merger of the Chartered Bank of India, Australia and China (founded in 1853) and Standard Bank of British South Africa (founded in 1862), creating an international bank with deep historical roots in trade finance and cross-border banking. Standard Chartered maintains a global footprint and a long-standing focus on facilitating trade and capital flows between developed and emerging markets.

Standard Chartered provides a broad range of banking and financial services for corporate, institutional and individual clients.