Power Co. of Canada (OTCMKTS:PWCDF) Sees Large Drop in Short Interest

Power Co. of Canada (OTCMKTS:PWCDF) was the recipient of a large decline in short interest during the month of July. As of July 15th, there was short interest totaling 6,999,365 shares, a decline of 43.3% from the June 30th total of 12,347,335 shares. Based on an average daily volume of 355,079 shares, the days-to-cover ratio is presently 19.7 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Royal Bank Of Canada reiterated an “outperform” rating on shares of Power Co. of Canada in a research report on Thursday, May 14th. Scotiabank reiterated an “outperform” rating on shares of Power Co. of Canada in a research report on Friday, July 24th. TD Securities cut Power Co. of Canada from a “buy” rating to a “hold” rating in a research note on Thursday, May 14th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Power Co. of Canada in a research note on Wednesday, April 29th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Power Co. of Canada in a research report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Power Co. of Canada presently has an average rating of “Hold”.

Power Co. of Canada Stock Performance

Shares of PWCDF stock traded up $1.47 during trading hours on Friday, reaching $67.61. The company had a trading volume of 4,374 shares, compared to its average volume of 107,934. The company has a 50 day moving average of $62.48 and a 200 day moving average of $55.14. Power Co. of Canada has a 1-year low of $38.21 and a 1-year high of $70.74.

About Power Co. of Canada

Power Co of Canada is a diversified international management and holding company founded in 1925 and headquartered in Montreal, Quebec. Through its principal subsidiaries, the company builds long-term value by investing in and providing strategic oversight to companies operating primarily in the financial services sector. Power Co maintains a long history of family ownership and stewardship, with former co-CEOs Paul Desmarais Jr. and André Desmarais playing key roles in its development over recent decades.

The company’s main areas of activity encompass life and health insurance, wealth and asset management, and retirement services.