GrainCorp Limited (OTCMKTS:GRCLF) Sees Large Decline in Short Interest

GrainCorp Limited (OTCMKTS:GRCLF) saw a large decrease in short interest during the month of February. As of February 13th, there was short interest totaling 12,760 shares, a decrease of 34.5% from the January 29th total of 19,491 shares. Based on an average daily trading volume, of 185,109 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily trading volume, of 185,109 shares, the days-to-cover ratio is currently 0.1 days.

GrainCorp Trading Up 9.8%

OTCMKTS GRCLF traded up $0.37 on Friday, hitting $4.16. 8,969 shares of the stock traded hands, compared to its average volume of 22,427. The stock has a 50-day moving average of $4.58 and a 200 day moving average of $5.10. GrainCorp has a twelve month low of $3.63 and a twelve month high of $6.15.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada lowered shares of GrainCorp from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, February 3rd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

GrainCorp Company Profile

GrainCorp Limited (OTCMKTS:GRCLF) is an Australian agribusiness and global provider of bulk storage, handling, processing and marketing services for grain and related commodities. The company’s integrated supply chain operations enable it to source grain directly from growers, manage inland storage and receival facilities across eastern Australia, and transport commodities to port terminals for domestic and international customers.

Within its core grain division, GrainCorp offers commodity marketing services, risk management solutions and logistics support for the movement of cereal grains such as wheat, barley and canola.