AB Volvo (OTCMKTS:VLVLY) Short Interest Up 1,056.4% in June

AB Volvo (OTCMKTS:VLVLY) was the target of a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 686,524 shares, an increase of 1,056.4% from the June 15th total of 59,367 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 714,100 shares, the days-to-cover ratio is presently 1.0 days.

AB Volvo Stock Up 1.1%

Shares of AB Volvo stock traded up $0.38 during trading hours on Friday, hitting $34.92. The company had a trading volume of 60,568 shares, compared to its average volume of 255,680. The company’s 50-day moving average is $34.08 and its two-hundred day moving average is $34.63. AB Volvo has a twelve month low of $26.11 and a twelve month high of $39.62. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.19 and a quick ratio of 0.91. The company has a market cap of $71.02 billion, a P/E ratio of 17.20, a price-to-earnings-growth ratio of 0.79 and a beta of 1.19.

AB Volvo (OTCMKTS:VLVLY) last released its quarterly earnings results on Friday, April 24th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.06). AB Volvo had a return on equity of 22.17% and a net margin of 8.32%.The firm had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $12.42 billion. Analysts anticipate that AB Volvo will post 2.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Pareto Securities raised AB Volvo to a “strong-buy” rating in a research note on Thursday, June 11th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, AB Volvo presently has an average rating of “Moderate Buy”.

About AB Volvo

AB Volvo (Volvo Group) is a Swedish multinational manufacturing company headquartered in Gothenburg. The company designs, manufactures and sells a broad range of commercial vehicles and related systems, including heavy- and medium-duty trucks, buses, and construction equipment. In addition to vehicles and machinery, Volvo supplies marine and industrial power systems through its Volvo Penta division and offers parts, service, telematics and financing solutions to commercial customers worldwide.

Key product and business lines include Volvo Trucks and Mack-branded heavy trucks, a global bus and coach offering, Volvo Construction Equipment, and power systems for marine and industrial applications.