Short Interest in Bechtle AG (OTCMKTS:BECTY) Rises By 1,500.0%

Bechtle AG (OTCMKTS:BECTY) saw a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 112 shares, an increase of 1,500.0% from the May 14th total of 7 shares. Based on an average daily trading volume, of 291 shares, the days-to-cover ratio is currently 0.4 days.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Bechtle in a research note on Monday, April 27th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy”.

Bechtle Trading Up 5.1%

OTCMKTS:BECTY opened at $7.39 on Thursday. The firm’s fifty day simple moving average is $7.18 and its 200 day simple moving average is $8.48. Bechtle has a twelve month low of $6.00 and a twelve month high of $11.25.

About Bechtle

Bechtle AG is a Europe-based provider of IT infrastructure and services, operating through two main segments: IT Systemhaus & Managed Services and IT E-commerce. In its Systemhaus division, Bechtle delivers design, implementation and support for data center solutions, network and security architectures, cloud services, managed print services and workplace management. Its E-commerce segment offers customers direct access to a broad catalogue of hardware, software and peripherals from leading global vendors via online platforms tailored to private and public sector clients.

Founded in 1983 and headquartered in Neckarsulm, Germany, Bechtle has grown organically and through acquisitions to establish a presence in more than a dozen European countries.