ALPEK, S.A.B. de C.V. (OTCMKTS:ALPKF) Stock Short Interest Drops 37.9%

ALPEK, S.A.B. de C.V. (OTCMKTS:ALPKF) was the target of a large decline in short interest in October. As of October 15th, there was short interest totaling 746,244 shares, a decline of 37.9% from the September 30th total of 1,202,389 shares. Based on an average daily trading volume, of 47,109 shares, the days-to-cover ratio is currently 15.8 days.

ALPEK Price Performance

Shares of OTCMKTS ALPKF opened at $0.84 on Tuesday. ALPEK has a one year low of $0.45 and a one year high of $0.91. The stock’s fifty day moving average price is $0.82 and its two-hundred day moving average price is $0.68.

Wall Street Analysts Forecast Growth

Separately, Scotiabank cut ALPEK from an “outperform” rating to a “sector perform” rating in a report on Friday, October 23rd. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the stock has an average rating of “Hold”.

ALPEK Company Profile

Alpek, SAB. de C.V. is a Mexico-based petrochemical company that produces and markets materials used in packaging, textiles, consumer products, automotive components, and other industrial applications. Its operations are primarily organized around polyester and plastics and chemicals.

The company’s polyester portfolio includes purified terephthalic acid (PTA), polyethylene terephthalate (PET), recycled PET, polyester fibers, and related products. Its plastics and chemicals business produces polypropylene, expandable polystyrene, caprolactam, and other chemical intermediates, while also providing certain energy and utility services associated with its manufacturing operations.

Alpek serves customers across North and South America and operates production and commercial facilities in several countries in the Americas.