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Shares of AES Corp (NYSE:AES) were the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 9,437,241 shares, a drop of 22.7% from the July 15th total of 12,202,495 shares, Stock Ratings News reports. Based on an average daily trading volume, of 3,248,222 shares, the short-interest ratio is currently 2.9 days. Currently, 1.3% of the company’s stock are sold short.

AES has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. raised their price target on shares of AES Corp from $16.00 to $17.00 in a research note on Tuesday, July 15th. They now have a “neutral” rating on the stock. Separately, analysts at Barclays raised their price target on shares of AES Corp from $17.00 to $18.00 in a research note on Monday, June 30th. They now have an “overweight” rating on the stock. Finally, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of AES Corp in a research note on Thursday, June 26th. They now have a $16.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. AES Corp presently has an average rating of “Buy” and an average target price of $16.90.

Shares of AES Corp (NYSE:AES) opened at 14.75 on Tuesday. AES Corp has a one year low of $12.38 and a one year high of $15.65. The stock’s 50-day moving average is $15.05 and its 200-day moving average is $14.43. The company’s market cap is $10.668 billion.

AES Corp (NYSE:AES) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. Analysts expect that AES Corp will post $1.33 EPS for the current fiscal year.

The AES Corporation (NYSE:AES) is a diversified power generation and utility company.

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