Short Interest in Alaska Air Group Grows By 125.0% (ALK)
Alaska Air Group (NYSE:ALK) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 8,821,130 shares, a growth of 125.0% from the June 30th total of 3,919,644 shares, Analyst Ratings Network.com reports. Based on an average daily volume of 1,547,392 shares, the short-interest ratio is currently 5.7 days. Currently, 6.5% of the shares of the company are short sold.
ALK has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. downgraded shares of Alaska Air Group from an “overweight” rating to a “neutral” rating in a research note on Wednesday. They now have a $53.50 price target on the stock, down previously from $56.50. Separately, analysts at Imperial Capital raised their price target on shares of Alaska Air Group from $56.00 to $60.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Finally, analysts at CRT Capital raised their price target on shares of Alaska Air Group from $57.00 to $58.00 in a research note on Monday. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $51.45.
Alaska Air Group (NYSE:ALK) opened at 44.90 on Thursday. Alaska Air Group has a 52 week low of $28.035 and a 52 week high of $50.49. The stock has a 50-day moving average of $47.78 and a 200-day moving average of $45.45. The company has a market cap of $6.140 billion and a P/E ratio of 10.34.
Alaska Air Group, Inc is a holding company of Alaska Airlines, Inc (NYSE:ALK) and Horizon Air Industries, Inc (Horizon), which together with its partner regional airlines, serve 95 cities through an expansive network in Alaska, the Lower 48, Hawaii, Canada and Mexico.
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