Saab AB – Unsponsored ADR (OTCMKTS:SAABY) Stock Short Interest Drops 51.6%

Saab AB – Unsponsored ADR (OTCMKTS:SAABY) was the recipient of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totaling 14,979 shares, a decrease of 51.6% from the August 31st total of 30,951 shares. Based on an average trading volume of 121,031 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are sold short.

Saab Price Performance

SAABY stock traded up $0.74 during trading on Thursday, hitting $31.32. 11,910 shares of the company’s stock traded hands, compared to its average volume of 146,373. The business has a fifty day simple moving average of $32.22 and a 200 day simple moving average of $30.76. Saab has a 52 week low of $23.29 and a 52 week high of $40.77. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.82 and a current ratio of 1.23. The stock has a market capitalization of $33.53 billion, a price-to-earnings ratio of 44.74 and a beta of -0.12.

Saab (OTCMKTS:SAABY) last released its earnings results on Friday, July 17th. The company reported $0.21 earnings per share for the quarter. The firm had revenue of $2.72 billion for the quarter. Saab had a return on equity of 15.87% and a net margin of 8.05%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SAABY shares. Barclays raised shares of Saab from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, August 10th. Pareto Securities raised shares of Saab from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 25th. Kepler Capital Markets upgraded Saab from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Finally, Royal Bank Of Canada raised Saab to a “hold” rating in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Saab currently has an average rating of “Moderate Buy”.

About Saab

Saab AB is a Swedish defense and security company that develops, manufactures and maintains advanced systems for governments, armed forces and other public-sector customers. The company’s activities span aeronautics, weapons systems, command and control, sensors, surveillance, naval systems and cybersecurity.

Its product portfolio includes the Gripen fighter aircraft, GlobalEye airborne early warning and control system, radar and electronic warfare solutions, the Carl-Gustaf recoilless rifle, AT4 anti-armor weapon and RBS 70 air-defense system.