Brambles Limited (OTCMKTS:BMBLF) Sees Large Decline in Short Interest

Brambles Limited (OTCMKTS:BMBLF) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 330,804 shares, a drop of 71.8% from the August 15th total of 1,172,797 shares. Based on an average daily volume of 1,358 shares, the days-to-cover ratio is presently 243.6 days.

Brambles Price Performance

Shares of BMBLF opened at $13.66 on Monday. Brambles has a fifty-two week low of $10.83 and a fifty-two week high of $18.27. The firm’s 50 day moving average price is $13.92 and its 200 day moving average price is $14.69.

Brambles Company Profile

Brambles Limited, trading as OTCMKTS:BMBLF in the U.S. over-the-counter market, is a global provider of supply-chain logistics solutions. The company specializes in the pooling and management of reusable pallets, crates and containers under its principal brands, CHEP and IFCO. These assets are used by customers in consumer goods, fresh produce, automotive, industrial and retail sectors to streamline logistics, improve traceability and reduce waste across local and global distribution networks.

Established in the 19th century as part of the Colonial Sugar Refining Company, Brambles has evolved through demergers and strategic acquisitions to become a standalone entity listed on the Australian Securities Exchange.