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

GrainCorp Limited (OTCMKTS:GRCLF) was the target of a large growth in short interest in February. As of February 27th, there was short interest totaling 63,265 shares, a growth of 395.8% from the February 12th total of 12,760 shares. Based on an average trading volume of 5,722 shares, the short-interest ratio is currently 11.1 days. Based on an average trading volume of 5,722 shares, the short-interest ratio is currently 11.1 days.

GrainCorp Price Performance

GRCLF traded up $0.03 on Wednesday, reaching $4.43. The company had a trading volume of 270,000 shares, compared to its average volume of 28,846. GrainCorp has a 1 year low of $3.63 and a 1 year high of $6.15. The stock has a 50-day moving average price of $4.50 and a 200-day moving average price of $5.08.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada downgraded GrainCorp from an “outperform” rating to a “sector perform” rating in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, GrainCorp presently 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.