Associated British Foods PLC (OTCMKTS:ASBFY) Sees Significant Growth in Short Interest

Associated British Foods PLC (OTCMKTS:ASBFY – Get Free Report) saw a significant increase in short interest in October. As of October 15th, there was short interest totaling 19,554 shares, an increase of 1,012.3% from the September 30th total of 1,758 shares. Based on an average daily trading volume, of 104,678 shares, the short-interest ratio is presently 0.2 days. Currently, 0.0% of the company’s stock are short sold.

Associated British Foods Stock Performance

Associated British Foods stock traded up $0.14 on Monday, reaching $26.36. The company’s stock had a trading volume of 46,015 shares, compared to its average volume of 110,125. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.51 and a quick ratio of 0.69. The business’s fifty day moving average price is $26.00 and its 200 day moving average price is $25.97. Associated British Foods has a twelve month low of $23.36 and a twelve month high of $31.11.

Analyst Upgrades and Downgrades

ASBFY has been the subject of a number of analyst reports. Zacks Research cut shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 1st. Kepler Capital Markets cut Associated British Foods from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 16th. Two analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Associated British Foods currently has a consensus rating of “Strong Sell”.

Check Out Our Latest Report on Associated British Foods

Associated British Foods Company Profile

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Associated British Foods plc is a diversified international food, ingredients and retail company headquartered in the United Kingdom. Founded in 1935, the group operates through five principal businesses: grocery, ingredients, sugar, agriculture and retail.

Its grocery operations produce branded and private-label foods, including bread, cereals, cooking ingredients, condiments, teas and other packaged products. The ingredients business supplies specialty ingredients such as yeast, enzymes, bakery products and savory solutions to food manufacturers.

Further Reading

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