Sappi Limited (OTCMKTS:SPPJY) Sees Large Decline in Short Interest
Sappi Limited (OTCMKTS:SPPJY) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 800 shares, a decline of 38.5% from the August 15th total of 1,300 shares. Based on an average trading volume of 11,000 shares, the short-interest ratio is currently 0.1 days.
Separately, Zacks Investment Research cut Sappi from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th.
Shares of OTCMKTS:SPPJY opened at $1.40 on Wednesday. The stock’s 50-day simple moving average is $1.45 and its two-hundred day simple moving average is $1.50. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.75 and a current ratio of 1.46. Sappi has a 52-week low of $1.07 and a 52-week high of $3.45. The stock has a market capitalization of $764.54 million, a price-to-earnings ratio of 3.18, a PEG ratio of 10.85 and a beta of 1.43.
Sappi Limited, a woodfibre company, manufactures and sells dissolving wood pulp, specialties and packaging papers, and graphic/printing papers to direct and indirect customers in North America, Europe, Southern Africa, and internationally. The company offers dissolving wood pulp products that are used by converters to create viscose fiber for clothing and textiles, acetate tow, and pharmaceutical products, as well as a range of consumer products.
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