Short Interest in Saputo Inc. (OTCMKTS:SAPIF) Increases By 83.9%

Saputo Inc. (OTCMKTS:SAPIF) was the target of a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 2,305,552 shares, a growth of 83.9% from the May 14th total of 1,253,971 shares. Based on an average daily volume of 178,676 shares, the days-to-cover ratio is presently 12.9 days.

Saputo Price Performance

Shares of OTCMKTS:SAPIF opened at $29.70 on Wednesday. The company’s fifty day moving average is $29.87 and its two-hundred day moving average is $30.16. Saputo has a 1-year low of $19.33 and a 1-year high of $32.49.

Analysts Set New Price Targets

Separately, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Saputo in a research note on Monday, June 8th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Saputo presently has a consensus rating of “Moderate Buy”.

Saputo Company Profile

Saputo Inc, trading on OTC Markets under the symbol SAPIF, is a Canada‐based dairy processor engaged in the manufacturing, marketing and distribution of a broad array of dairy products. The company’s portfolio spans cheese, fluid milk, cultured products such as yogurt and sour cream, and a range of dairy ingredients including whey proteins and lactose. Headquartered in Montreal, Quebec, Saputo serves both retail consumers and foodservice clients, supplying branded and private‐label offerings in North America and beyond.

Founded in 1954 by the Saputo family, the company has grown from a single cheesemaking facility into one of the world’s largest dairy processors.