Short Interest in UPM-Kymmene Oyj (OTCMKTS:UPMMY) Increases By 188.3%

UPM-Kymmene Oyj (OTCMKTS:UPMMY – Get Rating) was the target of a large growth in short interest in the month of April. As of April 30th, there was short interest totalling 29,700 shares, a growth of 188.3% from the April 15th total of 10,300 shares. Based on an average daily trading volume, of 48,500 shares, the days-to-cover ratio is presently 0.6 days.

Several brokerages have recently issued reports on UPMMY. Credit Suisse Group lifted their price objective on UPM-Kymmene Oyj from €35.50 ($37.37) to €36.80 ($38.74) in a research note on Tuesday, April 26th. Danske raised UPM-Kymmene Oyj from a “sell” rating to a “buy” rating in a research report on Tuesday, January 25th. Finally, DNB Markets raised UPM-Kymmene Oyj from a “hold” rating to a “buy” rating in a research report on Monday, January 24th.

Shares of OTCMKTS UPMMY opened at $32.95 on Friday. UPM-Kymmene Oyj has a fifty-two week low of $27.85 and a fifty-two week high of $41.77. The stock’s 50-day simple moving average is $33.40 and its 200-day simple moving average is $35.67.

About UPM-Kymmene Oyj (Get Rating)

UPM-Kymmene Oyj engages in the forest-based bio industry. It operates through UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers, UPM Plywood, and Other operations segments. The company provides softwood, birch, and eucalyptus pulp for tissue, specialty, and graphic papers and packaging; sawn timber for joinery, packaging, furniture, planning, and construction industries; and wood-based renewable diesel and renewable naphtha for the petrochemical industry.

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