Svenska Cellulosa Aktiebolaget SCA (publ) (OTCMKTS:SCABY) Sees Large Growth in Short Interest

Svenska Cellulosa Aktiebolaget SCA (publ) (OTCMKTS:SCABY) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 3,257 shares, an increase of 74.9% from the June 15th total of 1,862 shares. Based on an average daily trading volume, of 3,029 shares, the days-to-cover ratio is presently 1.1 days.

Svenska Cellulosa Aktiebolaget SCA (publ) Trading Up 6.2%

SCABY stock opened at C$10.79 on Friday. The business’s fifty day moving average price is C$11.02 and its 200 day moving average price is C$11.93. Svenska Cellulosa Aktiebolaget SCA has a 12-month low of C$9.45 and a 12-month high of C$14.60.

Analyst Upgrades and Downgrades

Separately, BNP Paribas Exane began coverage on shares of Svenska Cellulosa Aktiebolaget SCA (publ) in a report on Wednesday, June 10th. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

About Svenska Cellulosa Aktiebolaget SCA (publ)

Svenska Cellulosa Aktiebolaget SCA (publ) is a Sweden‐based forestry and paper products company whose American depositary shares trade over the counter under the symbol SCABY. The company’s core operations encompass sustainable forest management, pulp production and the manufacture of renewable packaging materials. SCA positions itself as a provider of high‐quality containerboard, corrugated packaging solutions and market pulp, serving a range of industries from food and beverage to e-commerce logistics.

SCA manages one of Europe’s largest private forest estates, principally located in northern Sweden, where it applies certified sustainable practices to balance wood production, biodiversity and carbon sequestration.