Short Interest in Kingspan Group plc (OTCMKTS:KGSPY) Declines By 88.6%

Kingspan Group plc (OTCMKTS:KGSPY) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 1,481 shares, a decline of 88.6% from the August 15th total of 12,970 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 33,899 shares, the days-to-cover ratio is currently 0.0 days.

Analyst Ratings Changes

A number of research firms have weighed in on KGSPY. Jefferies Financial Group raised Kingspan Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 18th. Zacks Research upgraded Kingspan Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Strong Buy”.

Kingspan Group Trading Up 0.5%

Shares of Kingspan Group stock traded up $0.54 during mid-day trading on Friday, reaching $119.59. 14,741 shares of the stock were exchanged, compared to its average volume of 14,754. Kingspan Group has a fifty-two week low of $71.63 and a fifty-two week high of $124.91. The firm has a 50-day simple moving average of $104.39 and a 200 day simple moving average of $95.47.

About Kingspan Group

Kingspan Group plc is an Ireland-based building materials company that develops products designed to improve the energy efficiency, performance and sustainability of buildings. Its offerings are used in commercial, industrial, residential and infrastructure projects.

The company’s products include insulated panels, insulation systems, architectural facades, roofing solutions, daylighting and ventilation systems, and water and energy management products. Kingspan also supplies flooring and data center infrastructure solutions, with products serving applications ranging from building envelopes and interior spaces to specialist construction environments.

Founded in 1965, Kingspan has grown from an Irish engineering business into an international manufacturer and supplier.