Nestle SA (OTCMKTS:NSRGY) Short Interest Update

Key Points

• Nestle SA experienced a 152.2% increase in short interest, totaling 121,300 shares as of July 31, indicating a growing bearish sentiment among investors.
• Shares of Nestle traded up 0.7% to $89.84, with a current average target price of $91.00 based on analysts' ratings.
• Institutional investors have been active, with new stakes purchased by multiple firms and an overall ownership of 0.61% of the company’s stock.

Nestle SA (OTCMKTS:NSRGY - Get Free Report) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 121,300 shares, anincreaseof152.2% from the July 15th total of 48,100 shares. Based on an average daily volume of 1,360,900 shares, the short-interest ratio is presently 0.1 days. Currently,0.0% of the shares of the company are sold short. Currently,0.0% of the shares of the company are sold short. Based on an average daily volume of 1,360,900 shares, the short-interest ratio is presently 0.1 days.

Hedge Funds Weigh In On Nestle

Several hedge funds have recently made changes to their positions in NSRGY. Corient IA LLC purchased a new stake in Nestle during the 1st quarter worth about $505,000. Mengis Capital Management Inc. increased its position in shares of Nestle by 25.5% during the first quarter. Mengis Capital Management Inc. now owns 41,965 shares of the company's stock valued at $4,246,000 after buying an additional 8,520 shares during the period. Elefante Mark B bought a new stake in shares of Nestle during the fourth quarter valued at about $1,527,000. Altrius Capital Management Inc lifted its holdings in shares of Nestle by 3.5% in the first quarter. Altrius Capital Management Inc now owns 81,440 shares of the company's stock worth $8,239,000 after buying an additional 2,753 shares in the last quarter. Finally, Minot DeBlois Advisors LLC bought a new position in shares of Nestle in the fourth quarter valued at approximately $822,000. 0.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group upgraded Nestle from an "underperform" rating to a "hold" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $91.00.

Nestle Price Performance

Nestle stock traded down $0.97 during mid-day trading on Thursday, reaching $93.61. The company's stock had a trading volume of 229,144 shares, compared to its average volume of 721,361. The firm's fifty day moving average price is $95.14 and its two-hundred day moving average price is $99.15. The company has a quick ratio of 0.51, a current ratio of 0.82 and a debt-to-equity ratio of 1.41. Nestle has a 12-month low of $80.11 and a 12-month high of $109.31.

About Nestle

Nestlé SA, together with its subsidiaries, operates as a food and beverage company. The company operates through Zone North America; Zone Europe; Zone Asia, Oceania, and Africa; Zone Latin America; Zone Greater China; Nespresso; and Nestlé Health Science segments. It offers baby foods under the Cerelac, Gerber, Nido, and NaturNes brands; bottled water under the Nestlé Pure Life, Perrier, Vittel, Buxton, Erikli, and S.Pellegrino brands; cereals under the Fitness, Nesquik, cheerios, and Lion Cereals brands; and chocolate and confectionery products under the KitKat, Smarties, Aero, Nestlé Les Recettes de l'Atelier, Milkybar, Baci Perugina, Quality Street, and Fitness brands.