Short Interest in Societe Generale Group (OTCMKTS:SCGLY) Drops By 49.1%

Societe Generale Group (OTCMKTS:SCGLY) was the target of a large decrease in short interest in the month of March. As of March 13th, there was short interest totaling 337,940 shares, a decrease of 49.1% from the February 26th total of 663,884 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 1,381,911 shares, the days-to-cover ratio is currently 0.2 days.

Societe Generale Group Stock Performance

Shares of OTCMKTS SCGLY opened at $15.07 on Thursday. Societe Generale Group has a 12-month low of $7.29 and a 12-month high of $18.30. The company has a market cap of $56.64 billion, a PE ratio of 8.86, a P/E/G ratio of 0.50 and a beta of 0.75. The stock has a 50 day simple moving average of $16.52 and a 200-day simple moving average of $14.88. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 2.06.

Societe Generale Group (OTCMKTS:SCGLY) last posted its earnings results on Friday, February 6th. The financial services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. The firm had revenue of $7.83 billion for the quarter, compared to analysts’ expectations of $7.77 billion. Societe Generale Group had a return on equity of 6.71% and a net margin of 22.01%. On average, equities research analysts forecast that Societe Generale Group will post 1.14 EPS for the current year.

Analyst Upgrades and Downgrades

SCGLY has been the subject of a number of analyst reports. Kepler Capital Markets lowered Societe Generale Group from a “buy” rating to a “reduce” rating in a research report on Friday, January 9th. The Goldman Sachs Group reiterated a “buy” rating on shares of Societe Generale Group in a research note on Monday, February 16th. Keefe, Bruyette & Woods downgraded shares of Societe Generale Group from a “moderate buy” rating to a “hold” rating in a report on Wednesday, January 28th. Zacks Research upgraded shares of Societe Generale Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Finally, Citigroup reaffirmed a “buy” rating on shares of Societe Generale Group in a report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

About Societe Generale Group

Société Générale Group, founded in 1864 and headquartered in Paris, is one of France’s largest banking groups. It offers a broad range of financial services to individuals, businesses, institutions and governments. The firm operates through multiple businesses that collectively provide banking, financing, investment and advisory solutions across retail, corporate and institutional client segments.

The group’s core activities encompass retail banking services such as deposit accounts, consumer and mortgage lending, payment services and wealth management.