Morgan Advanced Materials (OTCMKTS:MCRUF) Sees Large Growth in Short Interest

Morgan Advanced Materials (OTCMKTS:MCRUF) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 37,245 shares, an increase of 5,719.5% from the December 15th total of 640 shares. Based on an average trading volume of 3,932 shares, the days-to-cover ratio is presently 9.5 days. Based on an average trading volume of 3,932 shares, the days-to-cover ratio is presently 9.5 days.

Morgan Advanced Materials Stock Performance

OTCMKTS:MCRUF opened at $2.95 on Wednesday. The company’s 50-day moving average price is $2.71 and its two-hundred day moving average price is $2.83. Morgan Advanced Materials has a 12 month low of $2.37 and a 12 month high of $3.18.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada lowered Morgan Advanced Materials from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Morgan Advanced Materials Company Profile

Morgan Advanced Materials is a global engineering group specializing in the design, development and manufacture of advanced ceramic, carbon and composite materials. Founded in 1856 and headquartered in Windsor, England, the company serves a broad range of end markets by providing high-performance materials and components that enable critical applications in industries such as energy, electronics, aerospace, transportation and medical equipment.

The company’s portfolio includes engineered ceramics for thermal management and insulation, carbon materials for electrical and mechanical applications, and composite assemblies for wear-resistant and refractory uses.