China Mengniu Dairy (OTCMKTS:CIADY) Sees Large Drop in Short Interest

Key Points

• China Mengniu Dairy experienced a significant drop in short interest, falling 84.2% in September to only 300 shares, reflecting a strong reduction in bearish sentiment.
• The company’s stock price opened at $19.25, with a one-year range between $18.19 and $29.00, while the average trading volume was reported at 9,100 shares.
• Zacks Research downgraded China Mengniu Dairy from a "hold" to a "strong sell" rating, indicating a bearish outlook among analysts, with the consensus rating now at "sell."

China Mengniu Dairy (OTCMKTS:CIADY - Get Free Report) was the recipient of a significant decline in short interest in September. As of September 15th, there was short interest totaling 300 shares, a decline of 84.2% from the August 31st total of 1,900 shares. Based on an average trading volume of 9,100 shares, the days-to-cover ratio is currently 0.0 days. Based on an average trading volume of 9,100 shares, the days-to-cover ratio is currently 0.0 days.

China Mengniu Dairy Trading Up 1.2%

CIADY stock opened at $19.25 on Wednesday. The stock's fifty day simple moving average is $20.19 and its two-hundred day simple moving average is $22.08. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.97 and a quick ratio of 0.83. China Mengniu Dairy has a 1-year low of $18.19 and a 1-year high of $29.00.

Analyst Ratings Changes

Separately, Zacks Research downgraded China Mengniu Dairy from a "hold" rating to a "strong sell" rating in a report on Friday, September 26th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of "Sell".

About China Mengniu Dairy

China Mengniu Dairy Company Limited, an investment holding company, engages in the manufacture and distribution of dairy products under the MENGNIU brand in the People's Republic of China and internationally. It operates through Liquid Milk Business, Ice Cream Business, Milk Formula Business, and Cheese Business, and Other segments.

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