Scout24 SE (OTCMKTS:SCOTF) Sees Large Increase in Short Interest

Scout24 SE (OTCMKTS:SCOTF) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 16,352 shares, an increase of 29.5% from the December 31st total of 12,628 shares. Based on an average daily volume of 3,970 shares, the days-to-cover ratio is currently 4.1 days. Based on an average daily volume of 3,970 shares, the days-to-cover ratio is currently 4.1 days.

Scout24 Price Performance

Shares of Scout24 stock opened at $115.36 on Wednesday. The company has a 50-day moving average of $115.36 and a two-hundred day moving average of $118.30. Scout24 has a 12-month low of $115.36 and a 12-month high of $141.53.

Scout24 declared that its board has authorized a stock repurchase plan on Wednesday, December 3rd that permits the company to repurchase 0 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Jefferies Financial Group upgraded shares of Scout24 to a “buy” rating in a research note on Tuesday, January 6th. Citigroup restated a “buy” rating on shares of Scout24 in a research report on Monday, November 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Scout24 in a report on Monday, November 3rd. Finally, Morgan Stanley raised Scout24 from an “equal weight” rating to an “overweight” rating in a research note on Friday, January 9th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Scout24 Company Profile

Scout24 AG is a Germany-based operator of digital marketplaces specializing in real estate and automotive sectors. Headquartered in Munich, the company’s flagship platforms include ImmobilienScout24, a leading online property portal in Germany and Austria, and AutoScout24, one of Europe’s largest online marketplaces for new and used vehicles. These platforms connect private individuals, brokers and dealers with prospective buyers through searchable listings, digital marketing tools and ancillary services such as valuation modules and financing calculators.

Founded in 1998 as ImmobilienScout GmbH and rebranded to Scout24 AG in 2004, the company has expanded its footprint to serve multiple European markets.