Mitie Group plc (OTCMKTS:MITFF) Sees Large Drop in Short Interest

Mitie Group plc (OTCMKTS:MITFF) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 39,458 shares, a decrease of 88.6% from the July 15th total of 344,801 shares. Based on an average daily trading volume, of 11,031 shares, the days-to-cover ratio is presently 3.6 days.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MITFF. Deutsche Bank Aktiengesellschaft cut Mitie Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 21st. BNP Paribas Exane initiated coverage on shares of Mitie Group in a report on Monday, April 27th. They set a “neutral” rating for the company. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Mitie Group in a research note on Wednesday, April 29th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Mitie Group presently has a consensus rating of “Hold”.

Mitie Group Stock Performance

OTCMKTS MITFF opened at $2.64 on Wednesday. The business’s 50-day moving average price is $2.30 and its 200 day moving average price is $2.37. Mitie Group has a twelve month low of $1.75 and a twelve month high of $2.81.

Mitie Group Company Profile

Mitie Group plc is a leading provider of facilities management and professional services in the United Kingdom. The company offers an integrated suite of solutions spanning cleaning, security, catering, engineering maintenance, energy management and waste disposal. Through its focus on lifecycle management and sustainability, Mitie helps organisations optimise operational efficiency, reduce environmental impact and maintain compliance across their property portfolios.

Serving both public and private sector clients, Mitie delivers tailored service offerings to industries such as healthcare, education, transportation, retail and government.