The Dow Chemical Company Sees Large Drop in Short Interest (DOW)
The Dow Chemical Company (NYSE:DOW) saw a significant drop in short interest during the month of January. As of March 31st, there was short interest totalling 27,460,639 shares, a drop of 20.9% from the March 14th total of 34,731,304 shares, Analyst Ratings.Net reports. Based on an average daily trading volume, of 7,890,061 shares, the days-to-cover ratio is presently 3.5 days. Approximately 2.3% of the shares of the company are sold short.
A number of research firms have recently commented on DOW. Analysts at UBS AG raised their price target on shares of The Dow Chemical Company from $52.00 to $57.00 in a research note on Thursday, April 3rd. They now have a “buy” rating on the stock. Separately, analysts at Citigroup Inc. raised their price target on shares of The Dow Chemical Company to $57.00 in a research note on Wednesday, March 19th. They now have a “buy” rating on the stock. Finally, analysts at Ned Davis Research upgraded shares of The Dow Chemical Company from a “neutral” rating to a “buy” rating in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. The Dow Chemical Company currently has a consensus rating of “Hold” and an average price target of $49.33.
Shares of The Dow Chemical Company (NYSE:DOW) opened at 48.94 on Wednesday. The Dow Chemical Company has a one year low of $31.00 and a one year high of $50.96. The stock’s 50-day moving average is $48.99 and its 200-day moving average is $44.09. The company has a market cap of $58.985 billion and a price-to-earnings ratio of 13.25.
The Dow Chemical Company (NYSE:DOW) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.65 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.43 by $0.22. The company had revenue of $14.40 billion for the quarter, compared to the consensus estimate of $14.13 billion. During the same quarter last year, the company posted $0.33 earnings per share. The Dow Chemical Company’s revenue was up 3.4% compared to the same quarter last year. Analysts expect that The Dow Chemical Company will post $2.92 EPS for the current fiscal year.
The Dow Chemical Company combines the power of science and technology to passionately innovate what is essential to human progress.
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