Associated British Foods PLC (OTCMKTS:ASBFY) Short Interest Down 51.0% in May

Associated British Foods PLC (OTCMKTS:ASBFY) saw a significant drop in short interest in May. As of May 15th, there was short interest totaling 60,225 shares, a drop of 51.0% from the April 30th total of 123,003 shares. Based on an average daily trading volume, of 143,280 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.0% of the shares of the stock are short sold.

Associated British Foods Price Performance

Shares of ASBFY stock opened at $24.82 on Monday. The stock has a 50-day moving average price of $24.90 and a 200 day moving average price of $26.27. 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.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Royal Bank Of Canada lowered Associated British Foods from a “hold” rating to a “strong sell” rating in a research note on Monday, April 13th. Zacks Research lowered Associated British Foods from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, Associated British Foods currently has a consensus rating of “Reduce”.

About Associated British Foods

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.