Saputo Inc. (OTCMKTS:SAPIF) Short Interest Up 83.9% in May

Saputo Inc. (OTCMKTS:SAPIF) was the target of a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 2,305,552 shares, an increase of 83.9% from the May 14th total of 1,253,971 shares. Based on an average trading volume of 178,676 shares, the short-interest ratio is presently 12.9 days.

Saputo Price Performance

Shares of Saputo stock remained flat at $29.90 during mid-day trading on Tuesday. 184,023 shares of the company’s stock traded hands, compared to its average volume of 89,909. The stock has a fifty day moving average of $29.91 and a 200-day moving average of $30.15. Saputo has a one year low of $19.33 and a one year high of $32.49.

Wall Street Analyst Weigh In

Separately, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Saputo in a research report on Monday, June 8th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

About Saputo

Saputo Inc, trading on OTC Markets under the symbol SAPIF, is a Canada‐based dairy processor engaged in the manufacturing, marketing and distribution of a broad array of dairy products. The company’s portfolio spans cheese, fluid milk, cultured products such as yogurt and sour cream, and a range of dairy ingredients including whey proteins and lactose. Headquartered in Montreal, Quebec, Saputo serves both retail consumers and foodservice clients, supplying branded and private‐label offerings in North America and beyond.

Founded in 1954 by the Saputo family, the company has grown from a single cheesemaking facility into one of the world’s largest dairy processors.