Coca-Cola HBC (OTCMKTS:CCHGY) Sees Significant Growth in Short Interest

Key Points

• Coca-Cola HBC saw a significant rise in short interest in September, increasing by 189.1% to a total of 13,300 shares.
• Several analysts have downgraded Coca-Cola HBC's rating, with Zacks Research moving it from "strong-buy" to "hold", while Morgan Stanley initiated coverage with an "overweight" rating.
• The current stock price for Coca-Cola HBC is $47.85, with a trading volume of 5,209 shares on a day when the average volume is 11,330.

Coca-Cola HBC (OTCMKTS:CCHGY - Get Free Report) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totaling 13,300 shares, a growth of 189.1% from the September 15th total of 4,600 shares. Based on an average daily trading volume, of 17,900 shares, the short-interest ratio is currently 0.7 days. Based on an average daily trading volume, of 17,900 shares, the short-interest ratio is currently 0.7 days.

Wall Street Analyst Weigh In

CCHGY has been the subject of several research reports. Zacks Research downgraded Coca-Cola HBC from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 3rd. Morgan Stanley initiated coverage on Coca-Cola HBC in a report on Thursday, October 2nd. They issued an "overweight" rating for the company. Wall Street Zen cut Coca-Cola HBC from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 17th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Coca-Cola HBC in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy".

Coca-Cola HBC Price Performance

Shares of OTCMKTS CCHGY traded up $1.13 during trading on Friday, reaching $47.85. The stock had a trading volume of 5,209 shares, compared to its average volume of 11,330. The firm's 50 day moving average price is $49.18 and its two-hundred day moving average price is $50.70. Coca-Cola HBC has a one year low of $32.75 and a one year high of $55.60.

About Coca-Cola HBC

Coca-Cola HBC AG engages in the production, distribution, and sale of non-alcoholic ready-to-drink beverages under franchise in Switzerland, the United Kingdom, North and Central America, rest of Europe, the Nordic countries, and internationally. The company offers sparkling soft drinks, adult sparkling, hydration drinks, juices, ready-to-drink tea and coffee, sports and energy drinks, dairy, stills, coffee, water, plant-based drinks, premium spirits, and snacks.

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