PT Astra International Tbk (OTCMKTS:PTAIY) Sees Large Drop in Short Interest

PT Astra International Tbk (OTCMKTS:PTAIY) was the target of a large decline in short interest in the month of October. As of October 30th, there was short interest totaling 54,987 shares, a decline of 72.6% from the October 15th total of 200,392 shares. Based on an average daily volume of 611,715 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, Zacks Research downgraded shares of PT Astra International Tbk from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 24th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

PT Astra International Tbk Stock Performance

Shares of OTCMKTS:PTAIY traded up $0.11 during mid-day trading on Friday, hitting $5.97. 119,960 shares of the company traded hands, compared to its average volume of 217,485. The firm’s 50 day simple moving average is $5.33 and its 200 day simple moving average is $6.25. PT Astra International Tbk has a 52-week low of $4.60 and a 52-week high of $8.79.

About PT Astra International Tbk

PT Astra International Tbk is an Indonesian diversified company with businesses spanning automotive, financial services, heavy equipment and mining, agribusiness, infrastructure and logistics, information technology, and property. Founded in 1957 as a trading company, it has grown into a major business group in Indonesia. In automotive, Astra manufactures and distributes vehicles and motorcycles, including products associated with brands such as Toyota, Daihatsu, Isuzu, and Honda. Its related activities include vehicle financing, component manufacturing, and after-sales services.