Magazine Luiza S.A. (OTCMKTS:MGLUY) Sees Large Increase in Short Interest

Magazine Luiza S.A. (OTCMKTS:MGLUY) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 5,579 shares, a growth of 335.5% from the June 30th total of 1,281 shares. Based on an average daily trading volume, of 1,908 shares, the days-to-cover ratio is presently 2.9 days.

Magazine Luiza Stock Performance

Shares of MGLUY opened at $3.73 on Tuesday. The stock’s 50-day moving average price is $4.14 and its 200 day moving average price is $6.00. Magazine Luiza has a 12-month low of $3.25 and a 12-month high of $8.58.

Analysts Set New Price Targets

Separately, Citigroup upgraded shares of Magazine Luiza to a “neutral” rating in a report on Friday, June 5th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

About Magazine Luiza

Magazine Luiza SA engages in the retail sale of consumer goods. It operates through Retail, Financial Operations, Insurance Operations, and Other Services segments. The company also grants credit and provides extended warranties for its products. In addition, it is involved in the provision of consortium and management services; and e-commerce of perfumes, cosmetics, sports, and fashion products, as well as product delivery management and software development services. Further, the company provides integration, logistics, and technological solutions, as well as resale goods and provision of services in the stores, electronic and food delivery management platform.