Essentra (OTCMKTS:FLRAF) Short Interest Down 35.8% in April

Key Points

• Short interest plunged 35.8% in April to 298,294 shares from 464,951 at March-end, equal to about 0.1% of shares short and producing an unusually high short‑interest ratio of 1,506.5 days based on average volume.
• Essentra traded flat at $1.22, close to its 12‑month low of $1.20 and below its 50‑day and 200‑day moving averages of $1.36 and $1.32.
• Analyst sentiment is positive: Jefferies reiterated a "Buy" on April 14, and the stock carries an average "Buy" rating from two analysts.

Essentra (OTCMKTS:FLRAF - Get Free Report) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totaling 298,294 shares, a drop of 35.8% from the March 31st total of 464,951 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average trading volume of 198 shares, the short-interest ratio is presently 1,506.5 days.

Essentra Price Performance

OTCMKTS:FLRAF remained flat at $1.22 during trading hours on Tuesday. Essentra has a 12-month low of $1.20 and a 12-month high of $1.50. The business has a 50 day simple moving average of $1.36 and a two-hundred day simple moving average of $1.32.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reiterated a "buy" rating on shares of Essentra in a research report on Tuesday, April 14th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy".

About Essentra

Essentra PLC, trading on OTC MKTS under the symbol FLRAF, is a global provider of essential components and packaging solutions. The company operates through three principal divisions: Essential Components, Packaging Solutions and Health & Protection. Essentra's Essential Components division designs and manufactures plastic and fibre-based components such as complex injection-moulded parts, extruded shapes and technical adhesives, serving industries ranging from automotive and electronics to appliances.

The Packaging Solutions division offers a broad portfolio of specialty packaging products, including custom rigid and flexible solutions, labels, tapes and closures tailored for healthcare, industrial and commercial customers.

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