Short Interest in Metcash Limited (OTCMKTS:MCSHF) Declines By 97.9%

Metcash Limited (OTCMKTS:MCSHF) was the target of a significant decline in short interest during the month of July. As of July 15th, there was short interest totaling 5,626 shares, a decline of 97.9% from the June 30th total of 262,687 shares. Based on an average trading volume of 0 shares, the days-to-cover ratio is presently ∞ days.

Analysts Set New Price Targets

Separately, Citigroup upgraded Metcash to a “neutral” rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Metcash currently has an average rating of “Hold”.

Metcash Price Performance

Metcash stock remained flat at $1.79 during midday trading on Friday. Metcash has a 12-month low of $1.48 and a 12-month high of $2.32. The stock has a 50 day moving average of $1.52 and a 200-day moving average of $1.95.

About Metcash

Metcash Limited operates as a wholesale distribution and marketing company in Australia. It operates through Food, Liquor, and Hardware segments. The Food segment distributes a range of products and services to independent supermarket and convenience retail outlets. The Hardware segment distributes hardware products to independent retail outlets; and operates company owned retail stores. The Liquor segment engages in the distribution of liquor products to independent retail outlets and hotels. It sells its products under the IGA, Foodland, Mitre 10, Home Hardware, Total Tools, Cellarbrations, IGA Liquor, and the Bottle-O brand names.