Kingspan Group plc (OTCMKTS:KGSPY) Sees Large Decline in Short Interest

Kingspan Group plc (OTCMKTS:KGSPY) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 567 shares, a drop of 85.8% from the September 15th total of 3,989 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average trading volume of 24,814 shares, the days-to-cover ratio is presently 0.0 days.

Wall Street Analyst Weigh In

A number of brokerages have commented on KGSPY. Zacks Research upgraded Kingspan Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. Jefferies Financial Group raised shares of Kingspan Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating. According to MarketBeat, the company currently has a consensus rating of “Strong Buy”.

Kingspan Group Stock Up 0.6%

OTCMKTS KGSPY traded up $0.70 on Friday, hitting $111.64. 9,167 shares of the stock were exchanged, compared to its average volume of 17,032. Kingspan Group has a 52-week low of $71.63 and a 52-week high of $124.91. The stock has a fifty day moving average price of $114.00 and a two-hundred day moving average price of $98.58.

About Kingspan Group

Kingspan Group plc is an Ireland-based manufacturer of high-performance building products and solutions. The company focuses on improving the energy efficiency, sustainability, and performance of buildings through products used in construction, renovation, and infrastructure projects.

Its product portfolio includes insulated panels and systems for walls and roofs, insulation boards, architectural façades, daylighting and ventilation systems, raised access floors, and solutions for water and energy management.