Credit Agricole SA (OTCMKTS:CRARY) Shares Shorted: Short Interest Down 96.0% in October

Key Points

• Credit Agricole’s short interest fell 96.0% in October, dropping from 62,934 shares to 2,501 shares; short interest represented 0.0% of shares outstanding, with a days-to-cover ratio of 0.0.
• The stock rose 1.0% to $8.36 during Monday trading, with a market capitalization of $50.59 billion. It remains near its one-year low of $8.19 and below its 50-day and 200-day moving averages of $10.09.
• Credit Agricole slightly missed quarterly earnings expectations, reporting $0.34 per share versus the $0.35 consensus, though revenue exceeded estimates. Analysts maintain an overall “Hold” rating, with one Buy and four Hold recommendations.

Credit Agricole SA (OTCMKTS:CRARY - Get Free Report) saw a significant decline in short interest in the month of October. As of October 15th, there was short interest totaling 2,501 shares, a decline of 96.0% from the September 30th total of 62,934 shares. Based on an average trading volume of 581,724 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the shares of the company are sold short.

Credit Agricole Stock Up 1.0%

Credit Agricole stock traded up $0.08 during trading hours on Monday, hitting $8.36. 857,182 shares of the company traded hands, compared to its average volume of 234,259. The firm has a market cap of $50.59 billion, a P/E ratio of 7.46 and a beta of 0.64. The firm's 50-day simple moving average is $10.09 and its two-hundred day simple moving average is $10.09. Credit Agricole has a 1-year low of $8.19 and a 1-year high of $11.66.

Credit Agricole (OTCMKTS:CRARY - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.01). Credit Agricole had a return on equity of 31.64% and a net margin of 23.39%. The company had revenue of $8.47 billion during the quarter, compared to analyst estimates of $7.99 billion. On average, equities research analysts predict that Credit Agricole will post 1.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Credit Agricole in a research report on Wednesday, July 15th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Credit Agricole has an average rating of "Hold".

Credit Agricole Company Profile

Credit Agricole SA is a French banking group that provides retail, corporate and investment banking, insurance, asset management, consumer finance and specialized financial services. Through its networks and subsidiaries, the group serves individuals, businesses, institutional investors, farmers and public-sector organizations.

Its principal activities include retail banking in France and selected international markets; savings, life and property insurance; wealth and asset management; corporate and investment banking; consumer lending; leasing and factoring; payments; and financing for the agricultural and food sectors.

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