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

Rexel S.A. (OTCMKTS:RXEEY) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 3,353 shares, a drop of 71.7% from the August 31st total of 11,835 shares. Based on an average daily volume of 26,348 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are short sold.

Analysts Set New Price Targets

Several brokerages have issued reports on RXEEY. Morgan Stanley reissued an “overweight” rating on shares of Rexel in a research note on Monday, June 29th. Zacks Research upgraded shares of Rexel to a “hold” rating in a research note on Tuesday, June 9th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Rexel has an average rating of “Moderate Buy”.

Rexel Price Performance

RXEEY opened at $42.49 on Friday. Rexel has a 12 month low of $32.07 and a 12 month high of $47.13. The business has a 50 day simple moving average of $42.31 and a 200-day simple moving average of $42.15.

About Rexel

Rexel is a France-based distributor of electrical products and services for professional customers. The company supplies equipment used in residential, commercial and industrial construction, renovation, maintenance and infrastructure projects. Its offerings include electrical installation products, cables, lighting, safety equipment, automation and control systems, tools, and energy-management solutions.

Rexel also supports the transition toward electrification through products and services related to energy efficiency, renewable energy, electric-vehicle charging, building management and distributed power systems.