ICICI Bank Sees Large Drop in Short Interest (IBN)
Shares of ICICI Bank (NYSE:IBN) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 3,948,223 shares, a drop of 36.3% from the March 14th total of 6,202,513 shares, ARN reports. Approximately 0.0% of the shares of the company are sold short. Based on an average trading volume of 1,567,585 shares, the days-to-cover ratio is currently 2.5 days.
IBN has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of ICICI Bank from a “neutral” rating to an “outperform” rating in a research note on Monday, April 7th. They now have a $49.00 price target on the stock. Separately, analysts at Standpoint Research downgraded shares of ICICI Bank from a “buy” rating to a “hold” rating in a research note on Thursday, March 20th. Finally, analysts at Standpoint Research initiated coverage on shares of ICICI Bank in a research note on Wednesday, January 29th. They set an “accumulate” rating on the stock.
Shares of ICICI Bank (NYSE:IBN) opened at 42.94 on Monday. ICICI Bank has a 52-week low of $24.94 and a 52-week high of $48.44. The stock has a 50-day moving average of $42.88 and a 200-day moving average of $37.11. The company has a market cap of $24.767 billion and a P/E ratio of 14.05.
ICICI Bank (NYSE:IBN) last released its earnings data on Wednesday, January 29th. The company reported $0.71 EPS for the quarter. Analysts expect that ICICI Bank will post $3.22 EPS for the current fiscal year.
ICICI Bank Limited (NYSE:IBN) is a banking company engaged in providing a range of banking and financial services, including commercial banking and treasury operations.
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