Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY) Stock Short Interest Drops 40.2%

Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY) saw a large drop in short interest in October. As of October 15th, there was short interest totaling 199,227 shares, a drop of 40.2% from the September 30th total of 333,333 shares. Based on an average daily volume of 456,800 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.0% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, Zacks Research cut Ping An Insurance Co. of China from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 21st. One investment analyst has rated the stock with a Hold rating. According to MarketBeat, the company currently has an average rating of “Hold”.

Ping An Insurance Co. of China Price Performance

PNGAY traded up $0.18 during midday trading on Monday, reaching $12.92. 155,331 shares of the company’s stock were exchanged, compared to its average volume of 221,803. The company has a quick ratio of 0.47, a current ratio of 0.46 and a debt-to-equity ratio of 0.49. The business has a 50-day simple moving average of $13.53 and a two-hundred day simple moving average of $15.15. The firm has a market capitalization of $118.09 billion, a price-to-earnings ratio of 9.00 and a beta of 0.33. Ping An Insurance Co. of China has a one year low of $12.03 and a one year high of $18.92.

Ping An Insurance Co. of China (OTCMKTS:PNGAY) last issued its earnings results on Wednesday, October 28th. The company reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $25.55 billion during the quarter. Ping An Insurance Co. of China had a return on equity of 8.10% and a net margin of 9.67%. As a group, research analysts predict that Ping An Insurance Co. of China will post 2.34 EPS for the current year.

Ping An Insurance Co. of China Company Profile

Ping An Insurance (Group) Company of China Ltd. is a China-based integrated financial services group founded in 1988 and headquartered in Shenzhen. The company provides insurance, banking, investment and technology-related services through a range of subsidiaries and business units.

Its insurance operations include life and health insurance, property and casualty insurance, annuities and related financial protection products. Ping An also offers banking services, asset management and investment products, as well as healthcare and automotive-related services supported by its technology platforms.

Ping An primarily serves customers in mainland China through digital channels and an extensive network of agents, branches and service providers.