easyjet PLC (OTCMKTS:EJTTF) Sees Significant Increase in Short Interest

Key Points

• Short interest in easyJet surged 102.8% to 237,142 shares as of March 13, producing an extremely high days-to-cover ratio of 640.9 days based on an average daily volume of 370 shares, signaling very low OTC liquidity.
• Shares are trading at $4.81, well below the 50-day ($6.24) and 200-day ($6.34) moving averages, with a 1-year range of $4.62–$8.44.
• Analyst sentiment is positive after Sanford C. Bernstein upgraded the stock from Hold to Strong Buy, and the consensus rating on MarketBeat is currently Strong Buy.

easyjet PLC (OTCMKTS:EJTTF - Get Free Report) was the target of a large growth in short interest in March. As of March 13th, there was short interest totaling 237,142 shares, a growth of 102.8% from the February 26th total of 116,931 shares. Currently, 0.0% of the company's stock are sold short. Based on an average daily volume of 370 shares, the days-to-cover ratio is currently 640.9 days.

easyjet Price Performance

Shares of easyjet stock remained flat at $4.81 during trading on Thursday. The business's 50-day moving average is $6.24 and its two-hundred day moving average is $6.34. easyjet has a 1 year low of $4.62 and a 1 year high of $8.44. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.54.

Wall Street Analyst Weigh In

Separately, Sanford C. Bernstein upgraded shares of easyjet from a "hold" rating to a "strong-buy" rating in a report on Friday, November 28th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Strong Buy".

About easyjet

easyJet plc is a UK-based low-cost airline known for operating scheduled point-to-point flights across Europe, Turkey, North Africa and select destinations in the Middle East. Trading under the symbol EJTTF on the OTC Markets, the company offers no-frills air travel with a focus on affordable fares and ancillary revenues from services such as seat selection, in-flight catering and checked baggage.

Founded in 1995 by Stelios Haji-Ioannou and commencing operations in 1996, easyJet pioneered the low-cost carrier model in Europe, targeting both leisure and business travelers with a streamlined cost structure and high aircraft utilization.

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