Glencore PLC (OTCMKTS:GLNCY) Stock Short Interest Rises 73.4%

Key Points

• Glencore’s short interest jumped 73.4% to 768,335 shares as of October 15, up from 443,218 shares on September 30. Despite the increase, short interest represented 0.0% of shares outstanding, with a 0.6-day short-interest ratio.
• GLNCY shares opened at $13.84, compared with a 12-month range of $8.66 to $17.05; the stock’s 50-day and 200-day moving averages were $15.29 and $14.67, respectively.
• Analyst sentiment remained favorable, with recent upgrades from UBS and Goldman Sachs and reaffirmed positive ratings from other firms. MarketBeat’s consensus rating was “Moderate Buy,” including one Strong Buy, eight Buys, two Holds and one Sell.

Glencore PLC (OTCMKTS:GLNCY - Get Free Report) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 768,335 shares, a growth of 73.4% from the September 30th total of 443,218 shares. Based on an average daily volume of 1,224,011 shares, the short-interest ratio is currently 0.6 days. Currently, 0.0% of the shares of the company are sold short.

Glencore Price Performance

Shares of OTCMKTS:GLNCY opened at $13.84 on Monday. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.77. Glencore has a twelve month low of $8.66 and a twelve month high of $17.05. The company has a 50 day moving average of $15.29 and a 200-day moving average of $14.67.

Analyst Upgrades and Downgrades

GLNCY has been the subject of several recent analyst reports. UBS Group upgraded shares of Glencore from a "hold" rating to a "buy" rating in a research note on Friday, September 25th. Citigroup restated a "buy" rating on shares of Glencore in a research report on Wednesday, August 12th. The Goldman Sachs Group raised shares of Glencore from a "hold" rating to a "buy" rating in a research note on Thursday, July 9th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Glencore in a research report on Thursday, October 22nd. Finally, Barclays reaffirmed an "overweight" rating on shares of Glencore in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy".

About Glencore

Glencore plc is a diversified natural resources company engaged in the production, processing, marketing and distribution of commodities. Its activities span metals and minerals, energy products and agricultural products, serving industrial customers and consumers worldwide.

The company produces and markets commodities including copper, cobalt, zinc, nickel, ferroalloys, aluminum, coal and oil. It also participates in the marketing and distribution of metals, minerals, crude oil, refined products, coal and agricultural goods.

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