Standard Chartered PLC (OTCMKTS:SCBFY) Stock Short Interest Jumps 492.7%

Standard Chartered PLC (OTCMKTS:SCBFY) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totaling 120,031 shares, a growth of 492.7% from the August 31st total of 20,253 shares. Based on an average daily trading volume, of 391,833 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.0% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut shares of Standard Chartered from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold”.

Standard Chartered Trading Up 2.7%

OTCMKTS:SCBFY opened at $62.26 on Friday. Standard Chartered has a one year low of $37.32 and a one year high of $63.15. The stock has a 50-day simple moving average of $59.88 and a 200 day simple moving average of $53.54.

Standard Chartered Company Profile

Standard Chartered PLC is an international banking group headquartered in London, United Kingdom. Through its banking operations and subsidiaries, the company provides financial services to individuals, businesses, financial institutions and governments, with a particular focus on markets across Asia, Africa and the Middle East.

The company’s offerings include retail and affluent banking, wealth management, corporate and institutional banking, trade finance, transaction banking, foreign exchange, lending, cash management and investment banking services.