Volex plc (OTCMKTS:VLXGF) Sees Large Growth in Short Interest

Volex plc (OTCMKTS:VLXGF) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 41,128 shares, a growth of 582.7% from the May 31st total of 6,024 shares. Based on an average daily trading volume, of 29,896 shares, the days-to-cover ratio is presently 1.4 days.

Volex Stock Down 4.0%

Shares of OTCMKTS:VLXGF opened at $7.20 on Friday. The company has a 50-day simple moving average of $8.30 and a 200-day simple moving average of $6.84. Volex has a one year low of $4.73 and a one year high of $9.53.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on VLXGF shares. Jefferies Financial Group reiterated a “buy” rating on shares of Volex in a research note on Sunday, April 26th. Investec lowered shares of Volex to a “hold” rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Volex Company Profile

Volex plc manufactures and supplies power products and cable assemblies in North America, Europe, and Asia. It provides integrated manufacturing services, such as PCB assembly, box build, and complex cable assemblies; electric vehicle charging solutions; cable harness and power products; copper interconnect cable and data transfer cable; and data center power cables and power cords. It also offers plugs, connectors, and receptacles. Its products are used in complex industrial technology, consumer electronics, electric vehicle, and medical markets.