Glencore plc (OTCMKTS:GLCNF) Short Interest Up 78.9% in March

Glencore plc (OTCMKTS:GLCNF) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 668,541 shares, a growth of 78.9% from the March 15th total of 373,733 shares. Based on an average daily trading volume, of 703,697 shares, the short-interest ratio is currently 1.0 days.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank set a $12.90 price objective on shares of Glencore in a research report on Wednesday, December 17th.

Glencore Price Performance

Shares of Glencore stock opened at $7.36 on Monday. Glencore has a 52-week low of $3.15 and a 52-week high of $7.70. The company’s fifty day moving average price is $7.03 and its two-hundred day moving average price is $5.84.

About Glencore

Glencore plc is a global leader in the production, marketing and trading of commodities. Through its diversified portfolio, the company operates in two principal segments: Metals & Minerals, and Energy Products. In Metals & Minerals, Glencore produces and trades a wide array of industrial metals, including copper, zinc, nickel, cobalt, lead, aluminum, iron ore and coal. Its Energy Products segment encompasses the sourcing, storage and distribution of crude oil, refined products, natural gas and liquefied petroleum gas, while also managing a significant agricultural trading business that handles grains, oilseeds and sugar.

Founded in 1974 by Marc Rich as Marc Rich + Co International, the company rebranded to Glencore in 1994 and has since expanded through both organic growth and strategic acquisitions.