Assa Abloy AB (OTCMKTS:ASAZY) Sees Large Growth in Short Interest

Key Points

• Short interest surged in Assa Abloy AB during June, rising 308.9% to 31,857 shares as of June 30 from 7,790 shares two weeks earlier, though short interest still represented 0.0% of shares outstanding.
• The stock opened at $17.31 and the company carries a $38.52 billion market cap; its shares trade below both the 50-day and 200-day moving averages, and the stock sits between a 1-year low of $15.39 and high of $21.98.
• Assa Abloy’s latest quarterly results missed analyst expectations, with EPS of $0.17 versus $0.20 expected and revenue of $3.85 billion versus $3.88 billion expected, while analysts currently rate the stock a Moderate Buy overall.

Assa Abloy AB (OTCMKTS:ASAZY - Get Free Report) saw a significant increase in short interest in June. As of June 30th, there was short interest totaling 31,857 shares, an increase of 308.9% from the June 15th total of 7,790 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 1,845,843 shares, the short-interest ratio is currently 0.0 days.

Assa Abloy Stock Performance

OTCMKTS:ASAZY opened at $17.31 on Friday. The company has a market capitalization of $38.52 billion, a P/E ratio of 22.78, a P/E/G ratio of 2.25 and a beta of 1.17. The business has a fifty day simple moving average of $17.85 and a two-hundred day simple moving average of $19.08. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.03 and a quick ratio of 0.63. Assa Abloy has a 1 year low of $15.39 and a 1 year high of $21.98.

Assa Abloy (OTCMKTS:ASAZY - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.03). Assa Abloy had a return on equity of 15.93% and a net margin of 10.51%.The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.88 billion. On average, analysts expect that Assa Abloy will post 0.84 earnings per share for the current year.

Analyst Ratings Changes

ASAZY has been the topic of a number of recent analyst reports. Evercore upgraded Assa Abloy to a "hold" rating in a report on Monday, April 13th. Royal Bank Of Canada initiated coverage on Assa Abloy in a research note on Tuesday, June 16th. They issued an "outperform" rating for the company. Barclays reiterated an "overweight" rating on shares of Assa Abloy in a research note on Monday, June 15th. Zacks Research upgraded shares of Assa Abloy from a "strong sell" rating to a "hold" rating in a research note on Wednesday, June 10th. Finally, Pareto Securities raised shares of Assa Abloy from a "hold" rating to a "buy" rating in a research report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Assa Abloy has an average rating of "Moderate Buy".

Assa Abloy Company Profile

Assa Abloy is a global provider of door opening solutions, formed in 1994 through the merger of Swedish lock manufacturer ASSA and Finnish lock specialist Abloy. Building on a legacy that dates back to 1907, the company has grown into a diversified security technology group offering a broad portfolio of mechanical and electromechanical locks, access control systems, identification technology and entrance automation. Assa Abloy serves a wide range of end markets, including commercial buildings, residential dwellings, institutions, transportation hubs and hospitality venues.

The company's product offerings encompass traditional mechanical locks and keys as well as advanced digital solutions such as mobile access credentials, smart door locks and cloud-based access management platforms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.