Short Interest in Akzo Nobel NV (OTCMKTS:AKZOY) Drops By 58.6%

Key Points

• Akzo Nobel NV experienced a 58.6% drop in short interest in August, falling from 50,000 shares to 20,700 shares, indicating a significant decrease in bearish sentiment towards the stock.
• The company's latest earnings report showed a missed earnings per share estimate, with $0.43 reported versus the expected $0.47, although revenue exceeded expectations at $3.07 billion.
• As of now, Akzo Nobel's stock trades around $24.03, with a market capitalization of $12.34 billion, reflecting its position as a significant player in the paints and coatings industry.

Akzo Nobel NV (OTCMKTS:AKZOY - Get Free Report) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 20,700 shares, a decline of 58.6% from the August 15th total of 50,000 shares. Based on an average trading volume of 140,700 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the shares of the company are sold short. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 140,700 shares, the days-to-cover ratio is presently 0.1 days.

Akzo Nobel Stock Performance

Shares of AKZOY traded down $0.05 during midday trading on Thursday, hitting $24.14. 35,430 shares of the stock traded hands, compared to its average volume of 56,194. Akzo Nobel has a 1-year low of $18.07 and a 1-year high of $24.47. The firm has a market capitalization of $12.40 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 0.93 and a beta of 1.07. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.23. The business's 50 day moving average price is $22.80 and its two-hundred day moving average price is $22.11.

Akzo Nobel (OTCMKTS:AKZOY - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The basic materials company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.04). The firm had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.67 billion. Akzo Nobel had a net margin of 4.08% and a return on equity of 13.63%. Equities research analysts predict that Akzo Nobel will post 1.52 EPS for the current fiscal year.

Akzo Nobel Company Profile

Akzo Nobel N.V. engages in the production and sale of paints and coatings worldwide. The company operates through two segments: Decorative Paints and Performance Coatings. It offers decorative paints, including paints, lacquers, and varnishes; and a range of mixing machines and color concepts for the building and renovation industry, as well as specialty coatings.