Poste Italiane S.p.A. (OTCMKTS:PITAF) Stock Short Interest Declines 83.6%

Poste Italiane S.p.A. (OTCMKTS:PITAF) saw a large drop in short interest in September. As of September 30th, there was short interest totaling 3,061,686 shares, a drop of 83.6% from the September 15th total of 18,682,804 shares. Based on an average trading volume of 0 shares, the days-to-cover ratio is currently ∞ days.

Wall Street Analysts Forecast Growth

PITAF has been the subject of a number of recent research reports. Barclays raised Poste Italiane from an “equal weight” rating to an “overweight” rating in a report on Wednesday, June 24th. Citigroup reiterated a “buy” rating on shares of Poste Italiane in a research report on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

Poste Italiane Stock Performance

Shares of Poste Italiane stock remained flat at $31.39 during trading on Friday. Poste Italiane has a fifty-two week low of $20.55 and a fifty-two week high of $31.39. The stock has a 50 day moving average of $27.74 and a two-hundred day moving average of $24.91.

About Poste Italiane

Poste Italiane S.p.A. is Italy’s national postal operator and a diversified provider of logistics, financial, insurance and payment services. The company delivers letters and parcels, provides express and e-commerce logistics solutions, and operates an extensive network of post offices and digital channels throughout Italy.

Through its financial services activities, Poste Italiane offers payment accounts, prepaid cards, money-transfer services, savings products and other banking-related solutions, primarily through BancoPosta.