Akzo Nobel NV (OTCMKTS:AKZOY) Sees Significant Drop in Short Interest

Key Points

• Short interest plunged 92.7% to 14,812 shares as of September 30, representing approximately 0.0% of Akzo Nobel’s stock and only 0.1 days to cover.
• Akzo Nobel shares fell 0.3% to $21.55, while the company’s latest quarterly results missed expectations: earnings per share came in at $0.41 versus the $0.45 consensus estimate, and revenue was $2.95 billion.
• Analyst sentiment remains cautious, with the stock carrying an overall “Hold” rating; however, Oddo Bhf upgraded Akzo Nobel from “Neutral” to “Outperform.”

Akzo Nobel NV (OTCMKTS:AKZOY - Get Free Report) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totaling 14,812 shares, a decrease of 92.7% from the September 15th total of 201,937 shares. Approximately 0.0% of the company's stock are sold short. Based on an average daily trading volume, of 291,171 shares, the days-to-cover ratio is presently 0.1 days.

Akzo Nobel Trading Down 0.3%

Shares of OTCMKTS AKZOY traded down $0.06 during mid-day trading on Friday, hitting $21.55. The company's stock had a trading volume of 147,019 shares, compared to its average volume of 175,362. Akzo Nobel has a one year low of $18.04 and a one year high of $25.99. The company's fifty day simple moving average is $22.82 and its 200-day simple moving average is $21.75. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.88 and a quick ratio of 1.49. The stock has a market cap of $11.07 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 1.77 and a beta of 1.16.

Akzo Nobel (OTCMKTS:AKZOY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The basic materials company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.04). Akzo Nobel had a return on equity of 12.77% and a net margin of 6.49%. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.96 billion. On average, sell-side analysts anticipate that Akzo Nobel will post 1.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AKZOY. Oddo Bhf raised shares of Akzo Nobel from a "neutral" rating to an "outperform" rating in a research note on Monday, September 28th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Akzo Nobel in a research report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold".

Akzo Nobel Company Profile

Akzo Nobel N.V. is a Netherlands-based global paints and coatings company serving customers in the construction, automotive, aerospace, marine, consumer goods, and industrial markets. Its products are used to protect, decorate, and improve the performance of buildings, vehicles, equipment, and manufactured products.

The company offers decorative paints, protective coatings, powder coatings, wood finishes, and specialty coatings. Its portfolio includes well-known brands such as Dulux, Sikkens, International, Interpon, Sadolin, and Hammerite.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.