Bechtle AG (OTCMKTS:BECTY) Short Interest Down 92.9% in May

Bechtle AG (OTCMKTS:BECTY) was the target of a significant decrease in short interest in the month of May. As of May 15th, there was short interest totaling 7 shares, a decrease of 92.9% from the April 30th total of 99 shares. Based on an average daily volume of 1,143 shares, the days-to-cover ratio is currently 0.0 days.

Bechtle Stock Performance

OTCMKTS BECTY opened at $7.20 on Thursday. The company’s 50-day moving average price is $6.96 and its 200-day moving average price is $8.52. Bechtle has a 12 month low of $6.00 and a 12 month high of $11.25.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Bechtle in a report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Bechtle currently has an average rating of “Buy”.

Bechtle Company Profile

Bechtle AG is a Europe-based provider of IT infrastructure and services, operating through two main segments: IT Systemhaus & Managed Services and IT E-commerce. In its Systemhaus division, Bechtle delivers design, implementation and support for data center solutions, network and security architectures, cloud services, managed print services and workplace management. Its E-commerce segment offers customers direct access to a broad catalogue of hardware, software and peripherals from leading global vendors via online platforms tailored to private and public sector clients.

Founded in 1983 and headquartered in Neckarsulm, Germany, Bechtle has grown organically and through acquisitions to establish a presence in more than a dozen European countries.