Grupo Financiero Galicia S.A. (GGAL) Short Interest Up 44.6% in October
Grupo Financiero Galicia S.A. (NASDAQ:GGAL) saw a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 1,605,023 shares, an increase of 44.6% from the September 28th total of 1,110,145 shares. Based on an average daily trading volume, of 1,303,642 shares, the days-to-cover ratio is currently 1.2 days.
Grupo Financiero Galicia stock opened at $22.97 on Monday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.46. Grupo Financiero Galicia has a 52 week low of $18.30 and a 52 week high of $73.45.
Grupo Financiero Galicia (NASDAQ:GGAL) last released its earnings results on Friday, August 17th. The bank reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.01. The business had revenue of $483.52 million for the quarter, compared to analysts’ expectations of $392.51 million. As a group, equities research analysts forecast that Grupo Financiero Galicia will post 3.16 EPS for the current year.
Several equities analysts have recently commented on the company. ValuEngine cut Grupo Financiero Galicia from a “sell” rating to a “strong sell” rating in a research note on Monday, August 20th. BidaskClub upgraded Grupo Financiero Galicia from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 22nd. Zacks Investment Research cut Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 5th. Citigroup cut Grupo Financiero Galicia from a “buy” rating to a “neutral” rating in a research note on Thursday, August 30th. Finally, Bank of America cut Grupo Financiero Galicia from a “buy” rating to a “neutral” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $87.00.
About Grupo Financiero Galicia
Grupo Financiero Galicia SA, a financial services holding company, provides various financial products and services in Argentina. The company operates through Banking, Regional Credit Cards, Insurance, and Other Grupo Galicia Businesses segments. It offers corporate banking services to companies; credit and debit cards, loans, and financing advice to various agricultural-sector clients; foreign trade transaction services; and e-banking services.
Further Reading: Dollar Cost Averaging
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