Associated British Foods PLC (OTCMKTS:ASBFY) Stock Short Interest Jumps 1,012.3%

Associated British Foods PLC (OTCMKTS:ASBFY) was the recipient of a significant increase in short interest in October. As of October 15th, there was short interest totaling 19,554 shares, an increase of 1,012.3% from the September 30th total of 1,758 shares. Based on an average daily volume of 104,678 shares, the short-interest ratio is presently 0.2 days. Approximately 0.0% of the company’s stock are sold short.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Zacks Research downgraded shares of Associated British Foods from a “hold” rating to a “strong sell” rating in a report on Thursday, October 1st. Kepler Capital Markets downgraded shares of Associated British Foods from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 16th. Two equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Associated British Foods currently has an average rating of “Strong Sell”.

Associated British Foods Stock Performance

ASBFY opened at $25.77 on Wednesday. Associated British Foods has a 1 year low of $23.36 and a 1 year high of $31.06. The stock’s 50 day simple moving average is $25.93 and its 200 day simple moving average is $25.84.

About Associated British Foods

Associated British Foods plc is a diversified international food, ingredients and retail company headquartered in the United Kingdom. Founded in 1935, the group operates through five principal businesses: grocery, ingredients, sugar, agriculture and retail.

Its grocery operations produce branded and private-label foods, including bread, cereals, cooking ingredients, condiments, teas and other packaged products. The ingredients business supplies specialty ingredients such as yeast, enzymes, bakery products and savory solutions to food manufacturers.