AB Volvo (OTCMKTS:VLVLY) Sees Significant Decline in Short Interest

Key Points

• AB Volvo's short interest saw a significant decline of 40.7% in September, dropping to 14,000 shares from 23,600 shares in August.
• Goldman Sachs downgraded AB Volvo from a "buy" to a "neutral" rating, contributing to the stock's current average rating of "Hold".
• The company reported earnings of $0.69 per share for the last quarter, surpassing expectations by $0.16, with projected earnings of 2.38 EPS for the current fiscal year.

AB Volvo (OTCMKTS:VLVLY - Get Free Report) was the recipient of a large decrease in short interest during the month of September. As of September 15th, there was short interest totaling 14,000 shares, a decrease of 40.7% from the August 31st total of 23,600 shares. Based on an average trading volume of 95,900 shares, the days-to-cover ratio is presently 0.1 days. Based on an average trading volume of 95,900 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group downgraded AB Volvo from a "buy" rating to a "neutral" rating in a research report on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, AB Volvo currently has an average rating of "Hold".

AB Volvo Stock Up 1.1%

OTCMKTS VLVLY opened at $29.42 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.86 and a current ratio of 1.11. The company has a market capitalization of $59.82 billion, a P/E ratio of 13.94, a P/E/G ratio of 4.17 and a beta of 1.16. AB Volvo has a one year low of $22.55 and a one year high of $33.33. The stock has a 50 day moving average price of $29.63 and a 200-day moving average price of $28.29.

AB Volvo (OTCMKTS:VLVLY - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.16. AB Volvo had a return on equity of 23.77% and a net margin of 8.90%.The company had revenue of $12.59 billion for the quarter, compared to analyst estimates of $122.35 billion. As a group, equities analysts predict that AB Volvo will post 2.38 EPS for the current fiscal year.

About AB Volvo

AB Volvo (publ), together with its subsidiaries, manufactures and sells trucks, buses, construction equipment, and marine and industrial engines in Europe, the United States, Asia, Africa, and Oceania. The company provides heavy-duty trucks for long-haulage and construction work and light-duty trucks for distribution purposes under the Volvo, Renault Trucks, Mack, Eicher, and Dongfeng Trucks brands; and city and intercity buses, coaches, and chassis under the Prevost and Volvo Bus brands.

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