Short Interest in Standard Chartered PLC (OTCMKTS:SCBFY) Drops By 43.9%

Standard Chartered PLC (OTCMKTS:SCBFY) was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 24,666 shares, a decrease of 43.9% from the June 15th total of 43,966 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 275,930 shares, the days-to-cover ratio is presently 0.1 days.

Standard Chartered Stock Up 1.9%

SCBFY opened at $58.09 on Thursday. Standard Chartered has a fifty-two week low of $34.97 and a fifty-two week high of $58.20. The business has a 50-day moving average of $53.75 and a 200-day moving average of $49.91.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Standard Chartered from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Strong Buy”.

Standard Chartered Company Profile

Standard Chartered PLC is a leading international banking group headquartered in London, with a heritage dating back to the 19th century. The bank was formed in 1969 through the merger of Standard Bank of British South Africa and Chartered Bank of India, Australia and China, combining deep roots in emerging markets with a global footprint. Over more than 150 years of operations, Standard Chartered has built a reputation for expertise in trade finance, corporate banking and cross-border transactions.

The company offers a broad range of financial products and services, including corporate and institutional banking, retail banking, wealth management, treasury and capital markets solutions.