Basf Se (OTCMKTS:BASFY) Sees Large Decline in Short Interest

Key Points

• Short interest plunged 63.6% to 51,874 shares as of March 31, leaving just 0.0% of the float shorted and a days-to-cover ratio of 0.1 days.
• Analyst sentiment is mixed with an average rating of "Hold" — the consensus includes 1 Strong Buy, 3 Buy, 4 Hold and 1 Sell, after recent upgrades and downgrades from firms like DZ Bank, Citigroup, Santander and Berenberg.
• BASF missed earnings for the quarter (EPS -$0.12 vs. $0.30 expected) but reported stronger-than-expected revenue of $16.56 billion versus $14.32 billion estimated.

Basf Se (OTCMKTS:BASFY - Get Free Report) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totaling 51,874 shares, a decline of 63.6% from the March 15th total of 142,598 shares. Currently, 0.0% of the company's stock are short sold. Based on an average daily volume of 359,045 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

BASFY has been the topic of several recent analyst reports. Santander lowered Basf to a "neutral" rating in a research report on Wednesday, February 18th. Berenberg Bank raised Basf from a "sell" rating to a "hold" rating in a research report on Tuesday, February 17th. Kepler Capital Markets reissued a "hold" rating on shares of Basf in a report on Tuesday, March 31st. DZ Bank raised Basf from a "hold" rating to a "strong-buy" rating in a report on Monday, March 2nd. Finally, Citigroup reissued a "buy" rating on shares of Basf in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold".

Basf Stock Up 2.0%

BASFY stock opened at $16.00 on Friday. The company has a current ratio of 1.93, a quick ratio of 1.19 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $57.12 billion, a PE ratio of 31.37, a PEG ratio of 1.59 and a beta of 0.76. Basf has a 1-year low of $11.41 and a 1-year high of $16.13. The business's 50 day simple moving average is $14.39 and its 200 day simple moving average is $13.34.

Basf (OTCMKTS:BASFY - Get Free Report) last posted its earnings results on Friday, February 27th. The basic materials company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.42). The business had revenue of $16.56 billion for the quarter, compared to analyst estimates of $14.32 billion. Basf had a return on equity of 4.37% and a net margin of 2.59%. As a group, research analysts anticipate that Basf will post 0.83 EPS for the current year.

About Basf

BASF SE is a Germany-based chemical company founded in 1865 (originally Badische Anilin- & Soda-Fabrik) and headquartered in Ludwigshafen. It is one of the world's largest chemical producers, supplying raw materials, intermediates and finished chemical products to a broad range of industries including automotive, construction, agriculture, consumer goods, electronics and industrial manufacturing. The company combines large-scale production with global commercial and logistics networks to serve customers in many end markets.

BASF's activities span basic and specialty chemicals, performance materials, functional additives, catalysts and coatings, as well as products for nutrition and personal care.

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