Ally Financial Sees Large Increase in Short Interest (ALLY)
Shares of Ally Financial (NYSE:ALLY) were the target of a significant growth in short interest in June. As of June 13th, there was short interest totalling 12,447,417 shares, a growth of 50.6% from the May 30th total of 8,266,665 shares, Stock Ratings Network.com reports. Based on an average daily trading volume, of 3,565,013 shares, the days-to-cover ratio is presently 3.5 days. Currently, 3.4% of the company’s stock are sold short.
ALLY has been the subject of a number of recent research reports. Analysts at Bernstein initiated coverage on shares of Ally Financial in a research note on Wednesday, May 21st. They set a “market perform” rating on the stock. Separately, analysts at Sanford C. Bernstein initiated coverage on shares of Ally Financial in a research note on Wednesday, May 21st. They set a “market perform” rating and a $27.00 price target on the stock. Finally, analysts at Sandler O’Neill initiated coverage on shares of Ally Financial in a research note on Tuesday, May 20th. They set a “hold” rating and a $26.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $27.85.
Ally Financial (NYSE:ALLY) opened at 24.03 on Monday. Ally Financial has a one year low of $23.76 and a one year high of $27.9032. The stock has a 50-day moving average of $26.92 and a 200-day moving average of $26.62. The company’s market cap is $11.530 billion.
Ally Financial (NYSE:ALLY) last released its earnings data on Thursday, May 1st. The company reported $0.33 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.42 by $0.09. On average, analysts predict that Ally Financial will post $1.55 earnings per share for the current fiscal year.
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