Rexel S.A. (OTCMKTS:RXEEY) Sees Large Decline in Short Interest

Rexel S.A. (OTCMKTS:RXEEY) was the recipient of a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 4,591 shares, a decline of 69.9% from the July 15th total of 15,248 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 26,494 shares, the days-to-cover ratio is currently 0.2 days.

Rexel Stock Up 0.6%

Shares of Rexel stock traded up $0.25 on Friday, reaching $42.80. 9,934 shares of the company were exchanged, compared to its average volume of 16,668. Rexel has a 1-year low of $31.14 and a 1-year high of $47.13. The company’s 50-day moving average is $43.03 and its two-hundred day moving average is $42.39.

Wall Street Analysts Forecast Growth

RXEEY has been the subject of several recent research reports. Morgan Stanley reissued an “overweight” rating on shares of Rexel in a report on Monday, June 29th. Zacks Research raised shares of Rexel to a “hold” rating in a report on Tuesday, June 9th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

About Rexel

Rexel is a global distributor specializing in electrical supplies and services for residential, commercial and industrial markets. The company’s product portfolio includes wiring, lighting, automation and control systems, energy management solutions, safety equipment and renewable energy products. Rexel supports its customers with technical expertise, digital tools and value-added services such as inventory management, project management and on-site support.

Headquartered in Paris, France, Rexel operates in more than 25 countries across Europe, North America, Asia-Pacific and Latin America.