Associated British Foods PLC (OTCMKTS:ASBFY) Sees Large Growth in Short Interest

Associated British Foods PLC (OTCMKTS:ASBFY) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 13,533 shares, an increase of 54.0% from the July 15th total of 8,786 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 64,308 shares, the days-to-cover ratio is currently 0.2 days.

Analyst Ratings Changes

Separately, Zacks Research lowered shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce”.

Associated British Foods Trading Down 2.3%

OTCMKTS ASBFY opened at $27.21 on Tuesday. The business’s 50-day moving average price is $26.79 and its two-hundred day moving average price is $25.84. The company has a current ratio of 1.51, a quick ratio of 0.69 and a debt-to-equity ratio of 0.26. Associated British Foods has a 12 month low of $23.36 and a 12 month high of $31.96.

Associated British Foods Company Profile

Associated British Foods plc (OTCMKTS:ASBFY) is a diversified international food, ingredients and retail group headquartered in the United Kingdom. Founded in 1935, the company operates through multiple divisions that span grocery brands, sugar production and refining, ingredient and bakery systems, agriculture and a large value-fashion retail business. Its portfolio combines branded consumer goods with industrial food and agricultural operations, giving it exposure across the consumer staples and retail sectors.

On the grocery and branded side, the group owns and markets a range of food and beverage products, including well-known tea and grocery lines, while its ingredients businesses supply yeast, bakery ingredients and other inputs to commercial bakers and food manufacturers.