Kirin Holdings Co. (OTCMKTS:KNBWY) Sees Large Increase in Short Interest

Key Points

• Kirin’s short interest surged 171.5% to 54,238 shares as of October 15, up from 19,979 shares on September 30. Despite the increase, short interest represented 0.0% of shares outstanding, with a one-day days-to-cover ratio.
• Zacks Research upgraded Kirin from “strong sell” to “hold,” while the sole analyst covering the stock maintains a consensus “Hold” rating.
• Kirin shares recently traded at $18.02, with a $14.01–$19.99 52-week range. Its latest quarterly results exceeded expectations, with earnings of $0.58 per share versus estimates of $0.42 and revenue of $4.08 billion versus $3.87 billion expected.

Kirin Holdings Co. (OTCMKTS:KNBWY - Get Free Report) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totaling 54,238 shares, an increase of 171.5% from the September 30th total of 19,979 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 52,902 shares, the days-to-cover ratio is currently 1.0 days.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of Kirin from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 29th. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold".

Kirin Stock Performance

Shares of OTCMKTS KNBWY traded up $0.07 during midday trading on Thursday, hitting $18.02. 6,981 shares of the company's stock traded hands, compared to its average volume of 28,760. The firm has a fifty day moving average of $18.46 and a 200 day moving average of $17.20. The stock has a market capitalization of $14.59 billion, a price-to-earnings ratio of 11.47 and a beta of 0.01. Kirin has a 1 year low of $14.01 and a 1 year high of $19.99. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.02 and a current ratio of 1.48.

Kirin (OTCMKTS:KNBWY - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.16. The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $3.87 billion. Kirin had a return on equity of 12.22% and a net margin of 7.79%. On average, analysts forecast that Kirin will post 1.37 earnings per share for the current year.

Kirin Company Profile

Kirin Holdings Company, Limited is a Japan-based consumer products group best known for its beer, alcoholic beverages, soft drinks and health science businesses. The company operates primarily through its beverage operations, which produce and market beer, ready-to-drink alcoholic beverages, wine, nonalcoholic drinks, tea and functional beverages.

Kirin's portfolio includes established Japanese brands such as Kirin Ichiban Shibori beer, Kirin Lager, Hyoketsu ready-to-drink beverages, Afternoon Tea and Gogo no Kocha tea.

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