Power Co. of Canada (OTCMKTS:PWCDF) Short Interest Update

Power Co. of Canada (OTCMKTS:PWCDF) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totaling 4,083,542 shares, a drop of 41.7% from the July 15th total of 6,999,365 shares. Based on an average daily volume of 194,486 shares, the short-interest ratio is currently 21.0 days.

Power Co. of Canada Stock Performance

Shares of Power Co. of Canada stock opened at $67.69 on Wednesday. Power Co. of Canada has a 1 year low of $40.50 and a 1 year high of $70.74. The business has a 50 day moving average price of $64.61 and a 200 day moving average price of $56.62.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Power Co. of Canada in a research report on Wednesday, April 29th. Jefferies Financial Group upgraded Power Co. of Canada from a “hold” rating to a “buy” rating in a research report on Friday, July 31st. Desjardins reaffirmed a “buy” rating on shares of Power Co. of Canada in a research note on Wednesday, May 13th. TD Securities reiterated a “hold” rating on shares of Power Co. of Canada in a research report on Friday, July 31st. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Power Co. of Canada in a research note on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Hedge Funds Weigh In On Power Co. of Canada

An institutional investor recently raised its position in Power Co. of Canada stock. Cullen Capital Management LLC raised its stake in Power Co. of Canada (OTCMKTS:PWCDF) by 2.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 886,766 shares of the company’s stock after acquiring an additional 18,490 shares during the quarter. Cullen Capital Management LLC’s holdings in Power Co. of Canada were worth $55,121,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 41.73% of the company’s stock.

Power Co. of Canada Company Profile

Power Co of Canada is a diversified international management and holding company founded in 1925 and headquartered in Montreal, Quebec. Through its principal subsidiaries, the company builds long-term value by investing in and providing strategic oversight to companies operating primarily in the financial services sector. Power Co maintains a long history of family ownership and stewardship, with former co-CEOs Paul Desmarais Jr. and André Desmarais playing key roles in its development over recent decades.

The company’s main areas of activity encompass life and health insurance, wealth and asset management, and retirement services.