Short Interest in Glencore plc (OTCMKTS:GLCNF) Drops By 70.3%

Glencore plc (OTCMKTS:GLCNF) was the target of a large decrease in short interest in February. As of February 13th, there was short interest totaling 1,766,096 shares, a decrease of 70.3% from the January 29th total of 5,954,274 shares. Based on an average daily trading volume, of 142,216 shares, the short-interest ratio is currently 12.4 days. Based on an average daily trading volume, of 142,216 shares, the short-interest ratio is currently 12.4 days.

Glencore Stock Down 2.1%

Shares of OTCMKTS:GLCNF traded down $0.15 during trading on Thursday, hitting $7.06. 53,341 shares of the company were exchanged, compared to its average volume of 126,213. The firm has a fifty day moving average price of $6.33 and a two-hundred day moving average price of $5.13. Glencore has a fifty-two week low of $2.88 and a fifty-two week high of $7.35.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank set a $12.90 target price on Glencore in a research note on Wednesday, December 17th.

About Glencore

Glencore plc is a global leader in the production, marketing and trading of commodities. Through its diversified portfolio, the company operates in two principal segments: Metals & Minerals, and Energy Products. In Metals & Minerals, Glencore produces and trades a wide array of industrial metals, including copper, zinc, nickel, cobalt, lead, aluminum, iron ore and coal. Its Energy Products segment encompasses the sourcing, storage and distribution of crude oil, refined products, natural gas and liquefied petroleum gas, while also managing a significant agricultural trading business that handles grains, oilseeds and sugar.

Founded in 1974 by Marc Rich as Marc Rich + Co International, the company rebranded to Glencore in 1994 and has since expanded through both organic growth and strategic acquisitions.