Verbund Ag (OTCMKTS:OEZVY) Sees Large Decline in Short Interest

Verbund Ag (OTCMKTS:OEZVY) was the recipient of a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 162 shares, a decline of 89.0% from the May 14th total of 1,473 shares. Based on an average daily trading volume, of 368 shares, the days-to-cover ratio is currently 0.4 days.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Verbund in a report on Thursday, April 23rd. Kepler Capital Markets lowered shares of Verbund from a “hold” rating to a “strong sell” rating in a report on Monday, February 16th. Finally, Morgan Stanley reiterated an “underweight” rating on shares of Verbund in a report on Monday, May 18th. Four investment analysts have rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Strong Sell”.

Verbund Price Performance

OTCMKTS OEZVY remained flat at $13.61 during mid-day trading on Wednesday. 516 shares of the company were exchanged, compared to its average volume of 972. Verbund has a fifty-two week low of $13.21 and a fifty-two week high of $17.13. The company has a 50 day moving average of $14.47 and a 200 day moving average of $14.79.

Verbund (OTCMKTS:OEZVY) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.04. The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.27 billion.

About Verbund

Verbund AG is Austria’s leading electricity company and one of Europe’s largest producers of hydropower. The company’s core activities encompass the generation, transmission and distribution of electric power, with a focus on renewable energy sources. Verbund operates more than 130 hydropower plants along the Danube, Inn and Enns rivers, supplemented by pumped storage facilities and thermal generation assets. Through its integrated electricity grid, the company supplies power to domestic consumers and industrial clients while also participating in wholesale energy markets across Central Europe.

In addition to its extensive hydropower portfolio, Verbund has expanded into wind, solar and battery storage projects to support Europe’s transition to carbon-neutral energy.