Commonwealth Bank of Australia Sponsored ADR (OTCMKTS:CMWAY) Sees Large Growth in Short Interest

Commonwealth Bank of Australia Sponsored ADR (OTCMKTS:CMWAY) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totaling 8,524 shares, a growth of 350.5% from the June 15th total of 1,892 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 111,979 shares, the short-interest ratio is currently 0.1 days.

Commonwealth Bank of Australia Stock Performance

Shares of OTCMKTS CMWAY traded up $1.02 during midday trading on Friday, reaching $118.09. The stock had a trading volume of 38,408 shares, compared to its average volume of 51,947. The stock has a 50-day moving average of $116.42 and a 200-day moving average of $116.84. Commonwealth Bank of Australia has a 12-month low of $96.94 and a 12-month high of $136.85.

Analysts Set New Price Targets

Separately, Zacks Research cut Commonwealth Bank of Australia from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Commonwealth Bank of Australia presently has a consensus rating of “Reduce” and a consensus price target of $130.18.

Commonwealth Bank of Australia Company Profile

Commonwealth Bank of Australia is one of Australia’s largest banking and financial services organizations, offering a broad range of products for individual, business and institutional customers. Established by the federal government in 1911, the group has grown into a diversified financial services company that provides everyday banking, lending, payments, wealth management and insurance solutions. The company’s securities are listed on the Australian Securities Exchange and it also has American Depositary Receipts trading OTC under the symbol CMWAY.

Core activities include retail and business banking—deposit accounts, transaction services, mortgages, credit cards and personal and commercial lending—alongside institutional banking services such as corporate finance, markets and transaction banking.