Olympus Co. (OTCMKTS:OLYMY) Stock Short Interest Rises 497.9%

Olympus Co. (OTCMKTS:OLYMY) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 29,921 shares, a growth of 497.9% from the September 15th total of 5,004 shares. Based on an average trading volume of 71,032 shares, the days-to-cover ratio is presently 0.4 days.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group cut Olympus from a “buy” rating to a “neutral” rating in a report on Monday, June 15th. One analyst has rated the stock with a Hold rating. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Olympus Price Performance

Olympus stock traded up $0.09 during midday trading on Friday, hitting $12.65. 25,162 shares of the stock were exchanged, compared to its average volume of 88,267. The stock’s 50-day simple moving average is $12.84 and its 200 day simple moving average is $11.31. Olympus has a fifty-two week low of $8.08 and a fifty-two week high of $13.73.

Olympus Company Profile

Olympus Corporation is a Japan-based medical technology company that develops and manufactures equipment and systems used in minimally invasive procedures. Its primary business focuses on endoscopy and therapeutic solutions for hospitals, physicians and other health care providers.

The company’s products include gastrointestinal endoscopes and related imaging systems, surgical visualization equipment, electrosurgical devices and treatment instruments. Olympus also provides solutions used in urology, gynecology, respiratory care and ear, nose and throat procedures, along with service, training and other support for its medical technology portfolio.

Founded in 1919 as Takachiho Corporation, the company adopted the Olympus name in 1949 and historically operated businesses in cameras, audio products and scientific equipment.