Singapore Telecommunications Ltd. (OTCMKTS:SGAPY) Sees Significant Increase in Short Interest

Singapore Telecommunications Ltd. (OTCMKTS:SGAPY) saw a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 10,840 shares, an increase of 417.2% from the June 15th total of 2,096 shares. Based on an average daily volume of 148,149 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the company’s stock are sold short.

Singapore Telecommunications Stock Performance

SGAPY stock traded up $0.09 during mid-day trading on Monday, reaching $34.23. 44,838 shares of the stock traded hands, compared to its average volume of 75,205. Singapore Telecommunications has a 52 week low of $29.25 and a 52 week high of $41.20. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average of $34.90 and a two-hundred day moving average of $36.66.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Singapore Telecommunications to a “hold” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Singapore Telecommunications Company Profile

Singapore Telecommunications Limited (OTCMKTS: SGAPY), commonly known as Singtel, is a Singapore-based telecommunications and information communications technology (ICT) group. The company’s core consumer services include mobile and fixed-line telephony, broadband internet, and pay-TV and content distribution. Singtel also provides a range of enterprise solutions such as managed services, cloud and data center offerings, cybersecurity, Internet of Things (IoT) connectivity and systems integration for corporate and public-sector customers.

Beyond its domestic market, Singtel operates as a regional hub through subsidiaries and strategic investments.