JPMorgan Chase & Co. Sees Significant Decrease in Short Interest (JPM)
Shares of JPMorgan Chase & Co. (NYSE:JPM) were the target of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 35,061,123 shares, a drop of 19.4% from the March 31st total of 43,507,233 shares, Analyst Ratings.Net reports. Based on an average daily volume of 22,131,130 shares, the short-interest ratio is currently 1.6 days. Currently, 0.9% of the company’s shares are sold short.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Monday. They now have a $64.00 price target on the stock, down previously from $66.00. Separately, analysts at Citigroup Inc. cut their price target on shares of JPMorgan Chase & Co. from $72.00 to $68.00 in a research note on Monday. Finally, analysts at Nomura reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Monday, April 21st. They now have a $62.00 price target on the stock. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the stock. JPMorgan Chase & Co. currently has a consensus rating of “Buy” and a consensus price target of $61.54.
Shares of JPMorgan Chase & Co. (NYSE:JPM) opened at 54.36 on Friday. JPMorgan Chase & Co. has a one year low of $48.61 and a one year high of $61.48. The stock has a 50-day moving average of $57.37 and a 200-day moving average of $56.68. The company has a market cap of $205.7 billion and a price-to-earnings ratio of 13.39.
JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, April 11th. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.41 by $0.13. The company had revenue of $23.90 billion for the quarter, compared to the consensus estimate of $24.55 billion. During the same quarter in the previous year, the company posted $1.59 earnings per share. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, analysts predict that JPMorgan Chase & Co. will post $5.47 earnings per share for the current fiscal year.
JPMorgan Chase & Co (NYSE:JPM) is a financial holding company.
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