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Shares of Banro (NYSE:BAA) were the target of a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 823,995 shares, a decline of 7.4% from the April 30th total of 890,170 shares, AnalystRatings.Net reports. Currently, 0.3% of the company’s stock are sold short. Based on an average trading volume of 517,530 shares, the short-interest ratio is currently 1.6 days.

A number of research firms have recently commented on BAA. Analysts at CIBC set a $0.60 price target on shares of Banro in a research note on Thursday, May 15th. Analysts at BMO Capital Markets downgraded shares of Banro from a “market perform” rating to an “underperform” rating in a research note on Monday, March 3rd. They now have a $0.75 price target on the stock, down previously from $0.90. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. Banro currently has a consensus rating of “Hold” and a consensus price target of $0.68.

Shares of Banro (NYSE:BAA) opened at 0.4249 on Thursday. Banro has a one year low of $0.41 and a one year high of $1.27. The stock’s 50-day moving average is $0.45 and its 200-day moving average is $0.55. The company’s market cap is $107.1 million.

Banro (NYSE:BAA) last posted its quarterly earnings results on Monday, March 31st. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.02.

Banro Corporation (NYSE:BAA) is a Canada-based gold exploration company.

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