Short Interest in PPCB (NASDAQ:PPCB) Grows By 159.7%

PPCB (NASDAQ:PPCB) was the recipient of a large increase in short interest in the month of April. As of April 30th, there was short interest totaling 523,788 shares, an increase of 159.7% from the April 15th total of 201,708 shares. Currently, 4.6% of the company’s shares are short sold. Based on an average daily trading volume, of 2,428,344 shares, the short-interest ratio is currently 0.2 days.

PPCB Stock Performance

Shares of PPCB opened at $0.07 on Friday. The stock has a market cap of $1.08 million, a price-to-earnings ratio of -0.01 and a beta of 3.59. PPCB has a 12-month low of $0.06 and a 12-month high of $10.81. The firm has a 50-day moving average of $0.11.

PPCB shares are scheduled to reverse split on the morning of Monday, May 18th. The 1-25 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, May 17th.

PPCB (NASDAQ:PPCB) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.28) earnings per share (EPS) for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of PPCB from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, PPCB presently has a consensus rating of “Sell”.

About PPCB

Propanc Biopharma, Inc is a healthcare company. It focuses on the development of cancer treatments for pancreatic, ovarian and colorectal cancer primarily in Australia. The Company’s products include PRP and PRP-DCM. Propanc Biopharma, Inc, formerly known as Propanc Health Group Corporation, is based in Camberwell, Australia.