Short Interest in Absa Group Limited (OTCMKTS:AGRPY) Increases By 246.3%

Absa Group Limited (OTCMKTS:AGRPY) was the target of a large increase in short interest in the month of April. As of April 30th, there was short interest totaling 696 shares, an increase of 246.3% from the April 15th total of 201 shares. Based on an average daily volume of 713 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.0% of the shares of the stock are sold short.

Absa Group Price Performance

Shares of Absa Group stock opened at $26.70 on Thursday. Absa Group has a 1 year low of $17.91 and a 1 year high of $33.99. The business has a 50 day moving average price of $28.86 and a 200 day moving average price of $28.37. The company has a market capitalization of $11.07 billion and a P/E ratio of 0.94.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised shares of Absa Group to a “hold” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

About Absa Group

Absa Group Limited is a South African-based financial services conglomerate headquartered in Johannesburg. The company offers a broad range of banking and financial products and services, including personal and business banking, corporate and investment banking, credit cards, wealth management and insurance solutions. Through its integrated platform, Absa delivers digital and branch-based services aimed at meeting the diverse needs of individual consumers, small- to medium-sized enterprises and large corporate clients.

In its retail banking division, Absa provides everyday banking services such as transactional accounts, home and vehicle finance, personal loans and savings products.