Short Interest in Standard Bank Group Limited (OTCMKTS:SGBLY) Declines By 88.2%

Standard Bank Group Limited (OTCMKTS:SGBLY) was the target of a significant drop in short interest during the month of May. As of May 15th, there was short interest totaling 6,942 shares, a drop of 88.2% from the April 30th total of 58,809 shares. Based on an average daily trading volume, of 91,013 shares, the days-to-cover ratio is currently 0.1 days.

Standard Bank Group Stock Performance

OTCMKTS:SGBLY traded down $0.16 during trading hours on Friday, reaching $19.44. The stock had a trading volume of 19,789 shares, compared to its average volume of 57,629. The stock has a 50 day simple moving average of $18.85 and a 200 day simple moving average of $18.13. Standard Bank Group has a 12-month low of $12.22 and a 12-month high of $20.63.

Analysts Set New Price Targets

Separately, HSBC downgraded Standard Bank Group to a “hold” rating in a research report on Monday, May 4th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Standard Bank Group Company Profile

Standard Bank Group Limited is a South African financial services conglomerate headquartered in Johannesburg, offering a comprehensive range of banking and related services. Established in 1862, the group has grown to become one of Africa’s largest banks, serving individuals, small and medium-sized enterprises, and large corporations. Its core activities encompass personal and business banking, corporate and investment banking, wealth management, and insurance.

Within its personal and business banking division, Standard Bank provides transactional accounts, savings and deposits, mortgage lending, vehicle and asset finance, as well as payment solutions and digital banking platforms.