JPMorgan Chase & Co. Short Interest Up 14.2% in June (JPM)
JPMorgan Chase & Co. (NYSE:JPM) was the recipient of a significant growth in short interest in the month of June. As of June 13th, there was short interest totalling 39,908,346 shares, a growth of 14.2% from the May 30th total of 34,941,957 shares, American Banking & Market News reports. Based on an average trading volume of 12,206,860 shares, the short-interest ratio is presently 3.3 days. Currently, 1.1% of the shares of the company are sold short.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating in a research note on Thursday, May 29th. They now have a $50.00 price target on the stock. Separately, analysts at Citigroup Inc. initiated coverage on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 21st. They set a “buy” rating on the stock. Finally, analysts at MKM Partners initiated coverage on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 21st. They set a “buy” rating and a $65.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. JPMorgan Chase & Co. presently has an average rating of “Buy” and an average target price of $61.11.
Shares of JPMorgan Chase & Co. (NYSE:JPM) opened at 57.05 on Monday. JPMorgan Chase & Co. has a 1-year low of $50.06 and a 1-year high of $61.48. The stock has a 50-day moving average of $56.38 and a 200-day moving average of $57.05. The company has a market cap of $215.9 billion and a P/E ratio of 14.12.
JPMorgan Chase & Co (NYSE:JPM) is a financial holding company.
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