Short Interest in National Australia Bank Ltd. (OTCMKTS:NABZY) Expands By 788.3%

National Australia Bank Ltd. (OTCMKTS:NABZY) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 67,852 shares, a growth of 788.3% from the June 30th total of 7,638 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 642,811 shares, the short-interest ratio is currently 0.1 days.

National Australia Bank Price Performance

Shares of OTCMKTS:NABZY opened at $14.19 on Monday. The company’s fifty day moving average price is $13.31 and its 200-day moving average price is $14.60. National Australia Bank has a one year low of $12.07 and a one year high of $18.13.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. National Bank Financial upgraded National Australia Bank from a “neutral” rating to a “buy” rating and set a $42.50 target price on the stock in a research note on Wednesday, July 1st. Zacks Research downgraded National Australia Bank from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, National Australia Bank currently has a consensus rating of “Moderate Buy” and an average target price of $42.50.

About National Australia Bank

National Australia Bank (OTCMKTS: NABZY) is one of Australia’s largest banking groups, offering a broad range of financial services to retail, small business, corporate and institutional customers. Its core activities include personal and business banking — such as deposits, home and business lending, credit cards and payment services — as well as wealth management, insurance, markets and specialist lending. The bank provides transaction and cash management solutions, financing and advisory services to corporate clients and institutional investors.

Headquartered in Melbourne, NAB traces its corporate origins to a 1982 merger between the National Bank of Australasia and the Commercial Banking Company of Sydney, with precursor institutions dating to the 19th century.