Societe Generale Group (OTCMKTS:SCGLY) Sees Large Increase in Short Interest

Societe Generale Group (OTCMKTS:SCGLY) saw a significant increase in short interest in May. As of May 29th, there was short interest totaling 160,804 shares, an increase of 304.5% from the May 14th total of 39,751 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 580,027 shares, the days-to-cover ratio is presently 0.3 days.

Societe Generale Group Stock Up 0.3%

Shares of OTCMKTS:SCGLY traded up $0.05 during midday trading on Thursday, reaching $15.86. 794,842 shares of the company were exchanged, compared to its average volume of 770,618. Societe Generale Group has a fifty-two week low of $10.75 and a fifty-two week high of $18.30. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 2.06. The stock has a fifty day simple moving average of $16.14 and a two-hundred day simple moving average of $16.01. The firm has a market cap of $59.03 billion, a PE ratio of 8.81, a P/E/G ratio of 0.55 and a beta of 0.80.

Societe Generale Group (OTCMKTS:SCGLY) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. Societe Generale Group had a net margin of 22.33% and a return on equity of 6.92%. The business had revenue of $8.32 billion for the quarter, compared to analyst estimates of $8.29 billion. As a group, sell-side analysts forecast that Societe Generale Group will post 1.7 earnings per share for the current year.

Wall Street Analyst Weigh In

SCGLY has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Societe Generale Group in a research report on Tuesday, May 26th. Societe Generale raised shares of Societe Generale Group from a “market perform” rating to a “hold” rating in a research report on Friday, May 15th. Kepler Capital Markets raised shares of Societe Generale Group from a “reduce” rating to a “hold” rating in a research report on Friday, May 15th. Zacks Research cut shares of Societe Generale Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 21st. Finally, Citigroup reissued a “buy” rating on shares of Societe Generale Group in a research report on Tuesday. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold”.

About Societe Generale Group

Société Générale Group, founded in 1864 and headquartered in Paris, is one of France’s largest banking groups. It offers a broad range of financial services to individuals, businesses, institutions and governments. The firm operates through multiple businesses that collectively provide banking, financing, investment and advisory solutions across retail, corporate and institutional client segments.

The group’s core activities encompass retail banking services such as deposit accounts, consumer and mortgage lending, payment services and wealth management.