Sun Hung Kai Properties Ltd. (OTCMKTS:SUHJY) Sees Large Drop in Short Interest

Sun Hung Kai Properties Ltd. (OTCMKTS:SUHJY) was the recipient of a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 9,259 shares, a drop of 64.0% from the June 15th total of 25,752 shares. Based on an average trading volume of 364,771 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, Zacks Research downgraded shares of Sun Hung Kai Properties from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Sun Hung Kai Properties Price Performance

SUHJY opened at $15.12 on Monday. Sun Hung Kai Properties has a one year low of $11.17 and a one year high of $18.89. The company’s 50 day simple moving average is $16.04 and its 200-day simple moving average is $16.11.

About Sun Hung Kai Properties

Sun Hung Kai Properties (OTCMKTS:SUHJY) is a Hong Kong-based real estate developer and property investor, widely recognized as one of the territory’s largest and most influential property companies. The firm is primarily engaged in the development, sale and leasing of residential, commercial and industrial properties, as well as the ownership and management of investment properties such as shopping centres, office towers and hotels. It is listed on the Hong Kong Stock Exchange and also maintains an over‑the‑counter quotation in the United States.

The company’s core activities include land acquisition and project development, property sales, long‑term leasing and property management.