National Australia Bank Ltd. (OTCMKTS:NABZY) Sees Large Decrease in Short Interest

National Australia Bank Ltd. (OTCMKTS:NABZY) was the recipient of a significant drop in short interest in June. As of June 30th, there was short interest totaling 7,638 shares, a drop of 79.6% from the June 15th total of 37,466 shares. Based on an average trading volume of 1,211,134 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the company’s stock are short sold.

National Australia Bank Trading Up 1.3%

Shares of National Australia Bank stock traded up $0.18 during trading on Friday, hitting $13.81. 199,814 shares of the company’s stock traded hands, compared to its average volume of 492,557. National Australia Bank has a 1 year low of $11.76 and a 1 year high of $18.13. The business has a 50-day simple moving average of $13.34 and a 200-day simple moving average of $14.63.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Zacks Research lowered National Australia Bank from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. National Bank Financial upgraded shares of National Australia Bank from a “neutral” rating to a “buy” rating and set a $42.50 price objective for the company in a research note on Wednesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.50.

National Australia Bank Company Profile

National Australia Bank (OTCMKTS: NABZY) is one of Australia’s largest banking groups, offering a broad range of financial services to retail, small business, corporate and institutional customers. Its core activities include personal and business banking — such as deposits, home and business lending, credit cards and payment services — as well as wealth management, insurance, markets and specialist lending. The bank provides transaction and cash management solutions, financing and advisory services to corporate clients and institutional investors.

Headquartered in Melbourne, NAB traces its corporate origins to a 1982 merger between the National Bank of Australasia and the Commercial Banking Company of Sydney, with precursor institutions dating to the 19th century.