Suncorp Group Limited (OTCMKTS:SNMCY) Sees Large Growth in Short Interest

Suncorp Group Limited (OTCMKTS:SNMCY) was the target of a large growth in short interest in the month of October. As of October 30th, there was short interest totaling 124,586 shares, a growth of 16,228.4% from the October 15th total of 763 shares. Based on an average daily volume of 133,686 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.0% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, Zacks Research raised Suncorp Group from a “strong sell” rating to a “hold” rating in a research report on Friday. One research analyst has rated the stock with a Hold rating. According to MarketBeat.com, Suncorp Group currently has a consensus rating of “Hold”.

Suncorp Group Price Performance

OTCMKTS SNMCY traded up $0.09 on Tuesday, hitting $14.32. The stock had a trading volume of 36,881 shares, compared to its average volume of 90,193. Suncorp Group has a one year low of $9.43 and a one year high of $15.66. The company’s 50-day moving average is $13.70 and its two-hundred day moving average is $12.71.

Suncorp Group Company Profile

Suncorp Group Limited is an Australia-based insurance company headquartered in Brisbane. It provides personal and commercial insurance products, including home, motor, business and vehicle insurance, as well as other general insurance and related services. The company operates in Australia and New Zealand through brands that include Suncorp, AAMI, GIO, Apia, Shannons and Vero. Its New Zealand operations also include life insurance and insurance services offered through brands such as Asteron Life.