Short Interest in Absa Group Limited (OTCMKTS:AGRPY) Grows By 246.3%

Absa Group Limited (OTCMKTS:AGRPY) was the recipient of a large increase in short interest during the month of April. As of April 30th, there was short interest totaling 696 shares, an increase of 246.3% from the April 15th total of 201 shares. Based on an average trading volume of 713 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.0% of the company’s shares are sold short.

Absa Group Stock Up 5.3%

Shares of AGRPY opened at $28.11 on Friday. Absa Group has a fifty-two week low of $17.91 and a fifty-two week high of $33.99. The firm’s 50 day moving average price is $28.78 and its 200 day moving average price is $28.41. The company has a market cap of $11.65 billion and a P/E ratio of 0.94.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Absa Group to a “hold” rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Absa Group has a consensus rating of “Moderate Buy”.

Absa Group Company Profile

Absa Group Limited is a South African-based financial services conglomerate headquartered in Johannesburg. The company offers a broad range of banking and financial products and services, including personal and business banking, corporate and investment banking, credit cards, wealth management and insurance solutions. Through its integrated platform, Absa delivers digital and branch-based services aimed at meeting the diverse needs of individual consumers, small- to medium-sized enterprises and large corporate clients.

In its retail banking division, Absa provides everyday banking services such as transactional accounts, home and vehicle finance, personal loans and savings products.