China Resources Enterprise Ltd. (OTCMKTS:CRHKY) Sees Significant Drop in Short Interest

Key Points

• Short interest plunged 66.4% to 309,285 shares as of October 15, down from 920,707 shares at the end of September. The short-interest ratio fell to 0.5 days, with virtually none of the company’s shares sold short.
• China Resources Enterprise shares declined 1.8% to $4.89, trading below their 50-day and 200-day moving averages. The stock has ranged between $4.48 and $7.69 over the past year.
• Analyst sentiment remains neutral: Sanford C. Bernstein downgraded the stock to “market perform,” while the two analysts covering it maintain a consensus “Hold” rating.

China Resources Enterprise Ltd. (OTCMKTS:CRHKY - Get Free Report) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totaling 309,285 shares, a decrease of 66.4% from the September 30th total of 920,707 shares. Based on an average daily volume of 664,593 shares, the short-interest ratio is currently 0.5 days. Currently, 0.0% of the shares of the stock are short sold.

China Resources Enterprise Trading Down 1.8%

Shares of CRHKY stock traded down $0.09 during trading hours on Thursday, hitting $4.89. 64,644 shares of the company were exchanged, compared to its average volume of 205,434. The company has a 50 day simple moving average of $4.92 and a two-hundred day simple moving average of $6.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.69 and a current ratio of 0.97. China Resources Enterprise has a fifty-two week low of $4.48 and a fifty-two week high of $7.69.

Analysts Set New Price Targets

Separately, Sanford C. Bernstein cut China Resources Enterprise to a "market perform" rating in a research report on Wednesday, August 26th. Two research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

China Resources Enterprise Company Profile

China Resources Enterprise, Limited OTCMKTS: CRHKY is an investment holding company associated with China Resources Holdings. The company's operations have historically focused on consumer-related businesses, particularly retail, beer, food, and beverage activities in mainland China and Hong Kong.

Through its retail operations, China Resources Enterprise has been involved in supermarkets, hypermarkets, convenience stores, and other consumer outlets. Its beer business has been linked to China Resources Snow Breweries, one of the major beer producers in China, while its broader food and beverage activities have included the distribution and sale of consumer products.

China Resources Enterprise has undergone business restructuring and portfolio changes over time as the broader China Resources group has reorganized its consumer businesses.

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