Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY) Stock Short Interest Declines 96.4%

Key Points

• Short interest fell 96.4% to 2,390 shares as of October 15, down from 66,250 shares on September 30. Short interest represented 0.0% of shares outstanding, with a days-to-cover ratio of 0.0.
• Shares traded at $57.66, above their 50-day and 200-day moving averages of $55.50 and $55.04, respectively. The stock’s market capitalization was $32.44 billion, with a one-year trading range of $45.00 to $63.81.
• Zacks Research downgraded the stock from “hold” to “strong sell,” while MarketBeat reported a consensus rating of “sell” from the covered analyst.

Grupo Financiero Banorte SAB de CV (OTCMKTS:GBOOY - Get Free Report) saw a large decrease in short interest in October. As of October 15th, there was short interest totaling 2,390 shares, a decrease of 96.4% from the September 30th total of 66,250 shares. Based on an average daily trading volume, of 191,542 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the shares of the stock are sold short.

Grupo Financiero Banorte SAB de CV Price Performance

Grupo Financiero Banorte SAB de CV stock traded up $0.48 during mid-day trading on Monday, hitting $57.66. 41,280 shares of the company were exchanged, compared to its average volume of 54,612. The company has a market capitalization of $32.44 billion, a PE ratio of 9.72, a price-to-earnings-growth ratio of 1.33 and a beta of 0.71. The business has a fifty day moving average of $55.50 and a 200 day moving average of $55.04. Grupo Financiero Banorte SAB de CV has a 1-year low of $45.00 and a 1-year high of $63.81. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.64.

Analysts Set New Price Targets

Separately, Zacks Research lowered shares of Grupo Financiero Banorte SAB de CV from a "hold" rating to a "strong sell" rating in a research report on Monday, October 19th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Grupo Financiero Banorte SAB de CV has a consensus rating of "Sell".

About Grupo Financiero Banorte SAB de CV

Grupo Financiero Banorte, SAB. de C.V. is a Mexico-based financial services holding company and the parent organization of Grupo Financiero Banorte. Through its subsidiaries, the group provides banking, insurance, retirement savings, investment, brokerage and other financial services to individuals, small and medium-sized businesses, corporations and government entities.

Its principal banking subsidiary, Banco Mercantil del Norte, operates under the Banorte brand and offers deposit accounts, consumer and commercial loans, mortgages, credit cards, payment services, investment products and digital banking.

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