Hon Hai Precision Industry Co., Ltd. Sponsored GDR (OTCMKTS:HNHPF) Short Interest Up 80.9% in May

Hon Hai Precision Industry Co., Ltd. Sponsored GDR (OTCMKTS:HNHPF) saw a significant increase in short interest during the month of May. As of May 15th, there was short interest totaling 428,140 shares, an increase of 80.9% from the April 30th total of 236,629 shares. Based on an average daily trading volume, of 76,903 shares, the days-to-cover ratio is currently 5.6 days. Currently, 0.0% of the shares of the company are short sold.

Hon Hai Precision Industry Co., Ltd. Sponsored GDR Price Performance

OTCMKTS:HNHPF opened at $19.65 on Thursday. The stock’s 50 day simple moving average is $14.56 and its 200-day simple moving average is $14.39. Hon Hai Precision Industry Co., Ltd. Sponsored GDR has a 12-month low of $10.10 and a 12-month high of $20.26.

Wall Street Analysts Forecast Growth

Separately, Barclays reiterated an “overweight” rating and issued a $22.00 price objective on shares of Hon Hai Precision Industry Co., Ltd. Sponsored GDR in a research note on Tuesday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $22.00.

About Hon Hai Precision Industry Co., Ltd. Sponsored GDR

Hon Hai Precision Industry Co, Ltd., commonly known as Foxconn, is a leading global electronics contract manufacturer and technology solutions provider. The company specializes in the design, development and assembly of a wide range of electronic products, including smartphones, tablets, personal computers, servers and networking equipment. Alongside its core manufacturing services, Hon Hai offers turnkey production capabilities, encompassing engineering, supply chain management and after-sales support for original equipment manufacturers (OEMs) and brand owners.

Founded in 1974 by Terry Gou and headquartered in Tucheng District, New Taipei City, Taiwan, Hon Hai has grown from a single factory operation into one of the world’s largest private employers.