Svenska Cellulosa Aktiebolaget SCA (publ) (OTCMKTS:SCABY) Sees Significant Drop in Short Interest

Svenska Cellulosa Aktiebolaget SCA (publ) (OTCMKTS:SCABY) was the target of a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 1,862 shares, a decline of 85.5% from the May 31st total of 12,884 shares. Based on an average daily trading volume, of 5,447 shares, the short-interest ratio is presently 0.3 days.

Svenska Cellulosa Aktiebolaget SCA (publ) Trading Up 8.3%

Shares of OTCMKTS:SCABY traded up C$0.84 during midday trading on Friday, reaching C$10.92. 907 shares of the company’s stock traded hands, compared to its average volume of 2,465. Svenska Cellulosa Aktiebolaget SCA has a one year low of C$9.72 and a one year high of C$14.60. The stock has a 50 day moving average of C$11.44 and a 200 day moving average of C$12.11.

Analyst Upgrades and Downgrades

Separately, BNP Paribas Exane initiated coverage on shares of Svenska Cellulosa Aktiebolaget SCA (publ) in a report on Wednesday, June 10th. They set a “neutral” rating on the stock. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, Svenska Cellulosa Aktiebolaget SCA (publ) presently has a consensus rating of “Hold”.

Svenska Cellulosa Aktiebolaget SCA (publ) Company Profile

Svenska Cellulosa Aktiebolaget SCA (publ) is a Sweden‐based forestry and paper products company whose American depositary shares trade over the counter under the symbol SCABY. The company’s core operations encompass sustainable forest management, pulp production and the manufacture of renewable packaging materials. SCA positions itself as a provider of high‐quality containerboard, corrugated packaging solutions and market pulp, serving a range of industries from food and beverage to e-commerce logistics.

SCA manages one of Europe’s largest private forest estates, principally located in northern Sweden, where it applies certified sustainable practices to balance wood production, biodiversity and carbon sequestration.