Short Interest in Agri Bank China (OTCMKTS:ACGBY) Drops By 78.2%

Agri Bank China (OTCMKTS:ACGBY) was the recipient of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 2,666 shares, a drop of 78.2% from the June 15th total of 12,250 shares. Based on an average daily volume of 61,194 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the shares of the stock are sold short.

Agri Bank China Price Performance

ACGBY stock opened at $17.46 on Friday. Agri Bank China has a 1 year low of $15.85 and a 1 year high of $21.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.22 and a current ratio of 1.22. The stock’s 50 day moving average price is $18.37 and its 200 day moving average price is $17.95. The firm has a market cap of $244.43 billion, a P/E ratio of 6.28 and a beta of 0.11.

Analysts Set New Price Targets

Several brokerages have weighed in on ACGBY. Zacks Research upgraded shares of Agri Bank China from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Citigroup downgraded shares of Agri Bank China from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy”.

About Agri Bank China

Agricultural Bank of China (trading OTC as ACGBY) is a major state-owned commercial bank headquartered in Beijing that provides a broad range of banking and financial services. As one of China’s largest banks, it offers services to corporate, institutional and retail clients, with a particular historical focus on serving agricultural and rural customers alongside urban and corporate markets. The bank operates a large domestic branch network and maintains an international presence through branches and representative offices.

The bank’s product and service mix includes corporate lending, trade finance, project finance and cash management for businesses, together with deposit, mortgage, consumer lending and wealth-management products for individual customers.