Fairfax India Holdings Corporation (OTCMKTS:FFXDF) Sees Large Decline in Short Interest

Key Points

• Short interest fell 47.3% to 18,521 shares as of October 15, down from 35,139 shares on September 30. Short interest represented approximately 0.0% of outstanding shares, with a days-to-cover ratio of 0.4.
• Fairfax India shares traded down $0.05 to $17.93, near the company’s 50-day moving average of $17.98 and 200-day average of $17.86. The stock’s 12-month trading range is $15.46 to $20.49.
• The company reported quarterly EPS of $1.70, exceeding analysts’ $0.36 consensus estimate by $1.34, while quarterly revenue was negative $111.49 million versus expectations of $3.72 million.

Fairfax India Holdings Corporation (OTCMKTS:FFXDF - Get Free Report) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 18,521 shares, a decline of 47.3% from the September 30th total of 35,139 shares. Based on an average daily volume of 45,519 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.0% of the shares of the company are short sold.

Fairfax India Price Performance

FFXDF traded down $0.05 during trading on Friday, reaching $17.93. 8,380 shares of the company were exchanged, compared to its average volume of 35,679. Fairfax India has a 12-month low of $15.46 and a 12-month high of $20.49. The company's 50-day moving average is $17.98 and its two-hundred day moving average is $17.86. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.17. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 12.03 and a beta of 0.83.

Fairfax India (OTCMKTS:FFXDF - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $1.34. The firm had revenue of ($111.49) million during the quarter, compared to analysts' expectations of $3.72 million.

Fairfax India Company Profile

Fairfax India Holdings Corporation is an investment holding company focused on acquiring and managing long-term investments in India and India-related businesses. The company seeks opportunities across a range of sectors, including financial services, infrastructure, industrial operations, consumer products and other businesses that may benefit from India's economic development.

Fairfax India has invested in both publicly traded and private companies, with its portfolio historically including interests in businesses such as Bangalore International Airport Limited and other Indian financial, industrial and infrastructure enterprises.

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