Short Interest in Vale SA Declines By 9.9% (VALE)
Shares of Vale SA (NYSE:VALE) were the target of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 92,944,081 shares, a drop of 9.9% from the March 31st total of 103,211,386 shares, AnalystRatingsNetwork.com reports. Approximately 2.9% of the company’s stock are sold short. Based on an average daily trading volume, of 25,177,956 shares, the short-interest ratio is presently 3.7 days.
Several analysts have recently commented on the stock. Analysts at Canaccord Genuity cut their price target on shares of Vale SA from $18.50 to $17.00 in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.13.
Vale SA (NYSE:VALE) opened at 13.37 on Friday. Vale SA has a 52-week low of $12.29 and a 52-week high of $17.39. The stock’s 50-day moving average is $13.8 and its 200-day moving average is $14.38. The company’s market cap is $68.901 billion.
Vale SA (NYSE:VALE) is a Brazil-based metals and mining company.
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