Barratt Redrow plc. (OTCMKTS:BTDPY) Sees Significant Drop in Short Interest

Key Points

• Short interest fell 55.5% to 9,790 shares as of October 15, down from 22,022 shares at the end of September. Short interest represents approximately 0.0% of shares outstanding, with a days-to-cover ratio of 0.4.
• Analyst sentiment remains positive overall, with one Strong Buy, three Buy and four Hold ratings, producing a consensus rating of Moderate Buy. UBS initiated coverage with a Buy rating, while Peel Hunt downgraded the stock to Hold.
• Barratt Redrow shares recently traded at $8.63, above their 50-day and 200-day moving averages of $8.25 and $8.14, respectively, but remain below the 52-week high of $11.24.

Barratt Redrow plc. (OTCMKTS:BTDPY - Get Free Report) was the target of a significant decrease in short interest in October. As of October 15th, there was short interest totaling 9,790 shares, a decrease of 55.5% from the September 30th total of 22,022 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 24,780 shares, the days-to-cover ratio is currently 0.4 days.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BTDPY shares. UBS Group assumed coverage on Barratt Redrow in a research note on Wednesday, September 9th. They set a "buy" rating for the company. Peel Hunt lowered Barratt Redrow from a "moderate buy" rating to a "hold" rating in a research note on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy".

Barratt Redrow Stock Performance

Shares of OTCMKTS BTDPY traded up $0.13 during midday trading on Friday, reaching $8.63. 195 shares of the stock were exchanged, compared to its average volume of 123,389. The stock has a 50 day moving average price of $8.25 and a 200-day moving average price of $8.14. Barratt Redrow has a 52-week low of $6.38 and a 52-week high of $11.24.

Barratt Redrow Company Profile

Barratt Redrow plc is a United Kingdom-based residential property developer created through the combination of Barratt Developments and Redrow. The company builds and sells new homes for a range of buyers, including first-time purchasers, families and customers seeking higher-specification properties.

The group operates through established brands including Barratt Homes, David Wilson Homes, Barratt London and Redrow. Its activities generally include land acquisition, residential planning and design, construction, marketing and the sale of houses and apartments.

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