JPMorgan Chase & Co. Short Interest Up 10.8% in July (JPM)
JPMorgan Chase & Co. (NYSE:JPM) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 36,644,761 shares, a growth of 10.8% from the July 15th total of 33,073,670 shares, Analyst Ratings Network reports. Currently, 1.0% of the company’s shares are short sold. Based on an average daily trading volume, of 12,915,938 shares, the days-to-cover ratio is currently 2.8 days.
JPM has been the subject of a number of recent research reports. Analysts at RBC Capital raised their price target on shares of JPMorgan Chase & Co. from $64.00 to $65.00 in a research note on Wednesday, July 23rd. They now have an “outperform” rating on the stock. Separately, analysts at Nomura raised their price target on shares of JPMorgan Chase & Co. from $62.00 to $64.00 in a research note on Monday, July 21st. Finally, analysts at FBR Capital Markets upgraded shares of JPMorgan Chase & Co. from a “market perform” rating to an “outperform” rating in a research note on Monday, July 21st. They now have a $70.00 price target on the stock, up previously from $55.00. Three research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $61.76.
Shares of JPMorgan Chase & Co. (NYSE:JPM) opened at 56.98 on Friday. JPMorgan Chase & Co. has a 52 week low of $50.06 and a 52 week high of $61.48. The stock’s 50-day moving average is $57.30 and its 200-day moving average is $56.93. The company has a market cap of $214.3 billion and a price-to-earnings ratio of 14.56.
JPMorgan Chase & Co. (NYSE:JPM) last released its earnings data on Tuesday, July 15th. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.26. The company had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter in the previous year, the company posted $1.60 earnings per share. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. Analysts expect that JPMorgan Chase & Co. will post $5.51 EPS for the current fiscal year.
JPMorgan Chase & Co (NYSE:JPM) is a financial holding company.
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