Standard Chartered PLC (OTCMKTS:SCBFF) Sees Significant Growth in Short Interest

Standard Chartered PLC (OTCMKTS:SCBFF) was the target of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 210,583 shares, an increase of 21.1% from the January 15th total of 173,937 shares. Based on an average daily volume of 10,992 shares, the short-interest ratio is presently 19.2 days. Currently, 0.0% of the company’s shares are sold short. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 10,992 shares, the short-interest ratio is presently 19.2 days.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SCBFF shares. The Goldman Sachs Group upgraded Standard Chartered from a “hold” rating to a “buy” rating in a report on Thursday, December 11th. Zacks Research cut shares of Standard Chartered from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. Citigroup reissued a “neutral” rating on shares of Standard Chartered in a research note on Friday, January 9th. Finally, Morgan Stanley restated an “overweight” rating on shares of Standard Chartered in a report on Wednesday, January 14th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Standard Chartered Stock Down 2.1%

Shares of Standard Chartered stock opened at $23.65 on Tuesday. The stock’s fifty day moving average is $24.44 and its two-hundred day moving average is $21.31. Standard Chartered has a 52 week low of $10.65 and a 52 week high of $26.45. The company has a market capitalization of $53.77 billion, a PE ratio of 12.58 and a beta of 0.52.

Standard Chartered Company Profile

Standard Chartered plc is a British multinational banking and financial services company headquartered in London. The firm traces its modern form to the 1969 merger of the Chartered Bank of India, Australia and China (founded in 1853) and Standard Bank of British South Africa (founded in 1862), creating an international bank with deep historical roots in trade finance and cross-border banking. Standard Chartered maintains a global footprint and a long-standing focus on facilitating trade and capital flows between developed and emerging markets.

Standard Chartered provides a broad range of banking and financial services for corporate, institutional and individual clients.