Brambles Ltd. (OTCMKTS:BXBLY) Sees Significant Increase in Short Interest

Brambles Ltd. (OTCMKTS:BXBLY) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 49,841 shares, a growth of 1,322.4% from the June 15th total of 3,504 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 286,640 shares, the short-interest ratio is presently 0.2 days.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group raised shares of Brambles to a “neutral” rating and set a $19.34 price target for the company in a research report on Tuesday, May 19th. Zacks Research downgraded Brambles from a “hold” rating to a “strong sell” rating in a research note on Friday, May 22nd. Finally, UBS Group raised Brambles from a “hold” rating to a “buy” rating in a report on Monday, May 18th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $19.34.

Brambles Trading Down 2.8%

OTCMKTS:BXBLY traded down $0.76 on Friday, hitting $26.09. The stock had a trading volume of 97,589 shares, compared to its average volume of 138,469. The business’s 50-day simple moving average is $26.91 and its two-hundred day simple moving average is $30.28. Brambles has a 52-week low of $22.70 and a 52-week high of $36.00.

Brambles Company Profile

Brambles Limited (OTCMKTS:BXBLY) is a global supply-chain logistics company headquartered in Sydney, Australia, best known for its pooled pallet and reusable packaging services. The company operates the CHEP brand for pallets and larger load-carrier solutions and the IFCO brand for reusable plastic crates, offering customers standardized, shared assets that move goods through retail, grocery, manufacturing and other supply chains.

Brambles’ core activities include the management, distribution and maintenance of pooled pallets, crates and containers; repair and refurbishment services; and logistics support such as asset tracking and inventory management.