Portugal Telecom, SGPS Short Interest Up 66.6% in May (PT)
Portugal Telecom, SGPS (NYSE:PT) saw a large growth in short interest in the month of May. As of May 30th, there was short interest totalling 5,772,062 shares, a growth of 66.6% from the May 15th total of 3,463,918 shares, Analyst Ratings Net reports. Based on an average daily trading volume, of 856,720 shares, the days-to-cover ratio is presently 6.7 days. Approximately 0.0% of the company’s shares are short sold.
Separately, analysts at Berenberg Bank downgraded shares of Portugal Telecom, SGPS from a “buy” rating to a “hold” rating in a research note on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $3.48.
Shares of Portugal Telecom, SGPS (NYSE:PT) opened at 3.86 on Monday. Portugal Telecom, SGPS has a 1-year low of $3.47 and a 1-year high of $5.09. The stock has a 50-day moving average of $3.89 and a 200-day moving average of $4.29. The company has a market cap of $3.301 billion and a P/E ratio of 9.59.
Portugal Telecom SGPS SA (NYSE:PT) provides a range of telecommunications and multimedia services in Portugal and other countries or regions, including Brazil and Africa.
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