Singapore Airlines Limited (OTCMKTS:SINGY) Sees Large Drop in Short Interest

Singapore Airlines Limited (OTCMKTS:SINGY) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 18,535 shares, a decrease of 80.4% from the July 15th total of 94,470 shares. Based on an average daily trading volume, of 85,785 shares, the days-to-cover ratio is presently 0.2 days.

Singapore Airlines Stock Performance

Shares of SINGY stock opened at $11.51 on Wednesday. Singapore Airlines has a fifty-two week low of $9.28 and a fifty-two week high of $12.17. The business has a fifty day simple moving average of $11.59 and a 200-day simple moving average of $10.78.

Wall Street Analysts Forecast Growth

Separately, Citigroup upgraded shares of Singapore Airlines from a “sell” rating to a “neutral” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Singapore Airlines has a consensus rating of “Hold”.

Singapore Airlines Company Profile

Singapore Airlines (OTCMKTS:SINGY) is the flag carrier airline of Singapore, providing scheduled air passenger and cargo services to destinations across Asia, Europe, North America, the Middle East, Africa and Oceania. Headquartered at Singapore Changi Airport, the carrier operates a modern fleet of wide-body and narrow-body aircraft, offering premium, business and economy class cabins designed to meet the needs of leisure travellers, business executives and freight customers alike.

Since its establishment on May 1, 1972—following the split of Malaysia–Singapore Airlines—Singapore Airlines has grown from a regional operator into a globally recognized brand.