Short Interest in Standard Chartered PLC (OTCMKTS:SCBFY) Declines By 71.4%

Standard Chartered PLC (OTCMKTS:SCBFY) was the target of a large decrease in short interest in the month of July. As of July 15th, there was short interest totaling 7,063 shares, a decrease of 71.4% from the June 30th total of 24,666 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 299,934 shares, the short-interest ratio is presently 0.0 days.

Standard Chartered Price Performance

SCBFY traded up $0.28 during midday trading on Friday, reaching $56.88. The company’s stock had a trading volume of 320,436 shares, compared to its average volume of 213,205. Standard Chartered has a 1 year low of $34.97 and a 1 year high of $58.20. The stock’s 50-day moving average is $54.52 and its 200-day moving average is $50.25.

Wall Street Analyst Weigh In

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