Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Shares Shorted: Short Interest Down 96.4% in October

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) was the target of a large drop in short interest in October. As of October 15th, there was short interest totaling 2,390 shares, a drop of 96.4% from the September 30th total of 66,250 shares. Based on an average trading volume of 191,542 shares, the short-interest ratio is currently 0.0 days. Approximately 0.0% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, Zacks Research lowered Grupo Financiero Banorte SAB de CV from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock has an average rating of “Sell”.

Grupo Financiero Banorte SAB de CV Price Performance

Shares of GBOOY traded up $0.10 during mid-day trading on Wednesday, hitting $57.13. 963 shares of the company’s stock traded hands, compared to its average volume of 54,193. The business’s 50-day moving average price is $55.53 and its 200-day moving average price is $55.07. Grupo Financiero Banorte SAB de CV has a 1 year low of $45.00 and a 1 year high of $63.81.

About Grupo Financiero Banorte SAB de CV

Grupo Financiero Banorte, SAB. de C.V. is a Mexico-based financial services holding company and the parent organization of Grupo Financiero Banorte. Through its subsidiaries, the group provides banking, insurance, retirement savings, investment, brokerage and other financial services to individuals, small and medium-sized businesses, corporations and government entities.

Its principal banking subsidiary, Banco Mercantil del Norte, operates under the Banorte brand and offers deposit accounts, consumer and commercial loans, mortgages, credit cards, payment services, investment products and digital banking.