Commonwealth Bank of Australia Sponsored ADR (OTCMKTS:CMWAY) Sees Large Growth in Short Interest

Commonwealth Bank of Australia Sponsored ADR (OTCMKTS:CMWAY) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totaling 8,524 shares, a growth of 350.5% from the June 15th total of 1,892 shares. Based on an average daily volume of 111,979 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, Zacks Research cut Commonwealth Bank of Australia from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Commonwealth Bank of Australia currently has an average rating of “Reduce” and a consensus price target of $130.18.

Commonwealth Bank of Australia Stock Performance

CMWAY traded up $1.02 during trading on Friday, hitting $118.09. 38,408 shares of the company traded hands, compared to its average volume of 51,947. The stock’s 50-day simple moving average is $116.42 and its two-hundred day simple moving average is $116.84. Commonwealth Bank of Australia has a 1 year low of $96.94 and a 1 year high of $136.85.

Commonwealth Bank of Australia Company Profile

Commonwealth Bank of Australia is one of Australia’s largest banking and financial services organizations, offering a broad range of products for individual, business and institutional customers. Established by the federal government in 1911, the group has grown into a diversified financial services company that provides everyday banking, lending, payments, wealth management and insurance solutions. The company’s securities are listed on the Australian Securities Exchange and it also has American Depositary Receipts trading OTC under the symbol CMWAY.

Core activities include retail and business banking—deposit accounts, transaction services, mortgages, credit cards and personal and commercial lending—alongside institutional banking services such as corporate finance, markets and transaction banking.