Short Interest in Grupo Bimbo, S.A.B. de C.V. (OTCMKTS:BMBOY) Increases By 300.2%

Grupo Bimbo, S.A.B. de C.V. (OTCMKTS:BMBOY) was the target of a significant increase in short interest in March. As of March 13th, there was short interest totaling 1,605 shares, an increase of 300.2% from the February 26th total of 401 shares. Based on an average daily trading volume, of 1,003 shares, the days-to-cover ratio is currently 1.6 days. Based on an average daily trading volume, of 1,003 shares, the days-to-cover ratio is currently 1.6 days.

Grupo Bimbo Stock Performance

Shares of BMBOY opened at $13.01 on Wednesday. Grupo Bimbo has a 12 month low of $10.56 and a 12 month high of $15.82. The firm has a fifty day simple moving average of $14.20 and a 200 day simple moving average of $13.77.

Wall Street Analyst Weigh In

Separately, Barclays raised Grupo Bimbo from an “underweight” rating to an “overweight” rating in a research report on Tuesday, December 2nd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Grupo Bimbo currently has an average rating of “Buy”.

Grupo Bimbo Company Profile

Grupo Bimbo, SAB. de C.V. (OTCMKTS:BMBOY) is a Mexican multinational bakery products company founded in 1945 and headquartered in Mexico City. Over the decades, it has grown into one of the world’s largest baking firms by sales volume and operates as a publicly traded company on the Mexican Stock Exchange with an American depositary receipt program trading over the counter. The company’s origins trace back to a small bakery in Mexico City, and it has since expanded its footprint through organic growth and strategic acquisitions.

The company’s core business encompasses the production, marketing and distribution of a broad array of baked goods.