Whitehaven Coal Limited (OTCMKTS:WHITF) Shares Shorted: Short Interest Up 1,107.7% in September

Whitehaven Coal Limited (OTCMKTS:WHITF) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 2,295,639 shares, a growth of 1,107.7% from the September 15th total of 190,082 shares. Based on an average trading volume of 4,869 shares, the short-interest ratio is currently 471.5 days.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WHITF. The Goldman Sachs Group upgraded shares of Whitehaven Coal from a “sell” rating to a “hold” rating and set a $8.10 price target on the stock in a research note on Wednesday, July 8th. Zacks Research lowered Whitehaven Coal from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Finally, UBS Group cut Whitehaven Coal from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.10.

Whitehaven Coal Price Performance

Whitehaven Coal stock traded up $0.17 during midday trading on Friday, reaching $5.48. The company’s stock had a trading volume of 2,100 shares, compared to its average volume of 13,636. Whitehaven Coal has a fifty-two week low of $4.21 and a fifty-two week high of $6.85. The stock’s 50 day simple moving average is $5.60 and its 200 day simple moving average is $5.72.

Whitehaven Coal Company Profile

Whitehaven Coal Limited is an Australia-based coal producer focused on the exploration, development, mining, processing and sale of thermal and metallurgical coal. The company supplies coal for electricity generation and steelmaking, with production sold primarily into international markets across Asia.

Whitehaven operates open-cut and underground mines in New South Wales, including the Maules Creek and Narrabri mines in the Gunnedah Basin. Its New South Wales portfolio has also included the Werris Creek mine and the Vickery project.