GrainCorp Limited (OTCMKTS:GRCLF) Sees Large Growth in Short Interest

GrainCorp Limited (OTCMKTS:GRCLF) was the target of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 254,352 shares, a growth of 302.0% from the February 26th total of 63,265 shares. Based on an average trading volume of 173,340 shares, the short-interest ratio is currently 1.5 days.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada lowered shares of GrainCorp from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, GrainCorp presently has a consensus rating of “Hold”.

GrainCorp Price Performance

OTCMKTS:GRCLF opened at $4.35 on Friday. GrainCorp has a 1 year low of $3.63 and a 1 year high of $6.15. The stock has a 50-day moving average price of $4.38 and a two-hundred day moving average price of $5.03.

About GrainCorp

GrainCorp Limited (OTCMKTS:GRCLF) is an Australian agribusiness and global provider of bulk storage, handling, processing and marketing services for grain and related commodities. The company’s integrated supply chain operations enable it to source grain directly from growers, manage inland storage and receival facilities across eastern Australia, and transport commodities to port terminals for domestic and international customers.

Within its core grain division, GrainCorp offers commodity marketing services, risk management solutions and logistics support for the movement of cereal grains such as wheat, barley and canola.