Standard Chartered PLC (OTCMKTS:SCBFY) Sees Large Drop in Short Interest

Standard Chartered PLC (OTCMKTS:SCBFY) was the target of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 24,666 shares, a drop of 43.9% from the June 15th total of 43,966 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 275,930 shares, the days-to-cover ratio is currently 0.1 days.

Standard Chartered Stock Down 1.0%

Shares of OTCMKTS:SCBFY opened at $57.49 on Friday. Standard Chartered has a 12-month low of $34.97 and a 12-month high of $58.20. The business has a fifty day simple moving average of $53.88 and a 200 day simple moving average of $49.97.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Standard Chartered from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Strong Buy”.

About Standard Chartered

Standard Chartered PLC is a leading international banking group headquartered in London, with a heritage dating back to the 19th century. The bank was formed in 1969 through the merger of Standard Bank of British South Africa and Chartered Bank of India, Australia and China, combining deep roots in emerging markets with a global footprint. Over more than 150 years of operations, Standard Chartered has built a reputation for expertise in trade finance, corporate banking and cross-border transactions.

The company offers a broad range of financial products and services, including corporate and institutional banking, retail banking, wealth management, treasury and capital markets solutions.