Short Interest in Associated British Foods PLC (OTCMKTS:ASBFY) Drops By 51.0%

Associated British Foods PLC (OTCMKTS:ASBFY) saw a significant drop in short interest in the month of May. As of May 15th, there was short interest totaling 60,225 shares, a drop of 51.0% from the April 30th total of 123,003 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 143,280 shares, the days-to-cover ratio is currently 0.4 days.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ASBFY. Zacks Research cut Associated British Foods from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 29th. Royal Bank Of Canada cut Associated British Foods from a “hold” rating to a “strong sell” rating in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Associated British Foods has an average rating of “Reduce”.

Associated British Foods Price Performance

Shares of OTCMKTS:ASBFY opened at $24.82 on Monday. Associated British Foods has a twelve month low of $23.36 and a twelve month high of $31.96. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.69 and a current ratio of 1.51. The business has a fifty day moving average of $24.90 and a 200-day moving average of $26.27.

Associated British Foods Company Profile

Associated British Foods plc (OTCMKTS:ASBFY) is a diversified international food, ingredients and retail group headquartered in the United Kingdom. Founded in 1935, the company operates through multiple divisions that span grocery brands, sugar production and refining, ingredient and bakery systems, agriculture and a large value-fashion retail business. Its portfolio combines branded consumer goods with industrial food and agricultural operations, giving it exposure across the consumer staples and retail sectors.

On the grocery and branded side, the group owns and markets a range of food and beverage products, including well-known tea and grocery lines, while its ingredients businesses supply yeast, bakery ingredients and other inputs to commercial bakers and food manufacturers.