Short Interest in Flight Centre Ltd. (OTCMKTS:FGETF) Drops By 38.0%

Flight Centre Ltd. (OTCMKTS:FGETF) saw a significant drop in short interest in July. As of July 15th, there was short interest totaling 371,052 shares, a drop of 38.0% from the June 30th total of 598,704 shares. Based on an average daily trading volume, of 0 shares, the days-to-cover ratio is presently ∞ days. Approximately 0.2% of the shares of the stock are short sold.

Flight Centre Price Performance

FGETF stock remained flat at $8.28 during midday trading on Friday. The stock has a fifty day moving average of $7.92 and a two-hundred day moving average of $8.30. Flight Centre has a 12 month low of $6.73 and a 12 month high of $10.12.

Analyst Upgrades and Downgrades

Separately, Citigroup downgraded shares of Flight Centre to a “neutral” rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Flight Centre currently has an average rating of “Buy”.

Flight Centre Company Profile

Flight Centre Travel Group (OTCMKTS: FGETF) is a global travel agency headquartered in Brisbane, Australia. The company operates across both leisure and corporate segments, offering travel booking services, tailored itineraries and travel management solutions. Through an integrated network of retail stores, online platforms and dedicated corporate divisions, Flight Centre provides airfares, hotel accommodations, package tours and ancillary travel products to individual and business clients.

Founded in 1982 by Graham Turner and Geoff Harris, the company has expanded from a single storefront in Sydney into a multinational enterprise.