Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY) Sees Significant Drop in Short Interest

Key Points

• Short interest fell 40.2% to 199,227 shares as of October 15, down from 333,333 shares at the end of September. The stock’s days-to-cover ratio is 0.4 days, with roughly 0.0% of shares sold short.
• Ping An shares slipped 0.3% to $12.74, near the lower end of their 52-week range of $12.03 to $18.92. The company reported quarterly EPS of $0.06 and revenue of $25.55 billion.
• Analyst sentiment is neutral: Zacks Research downgraded the stock from “strong buy” to “hold,” and the consensus rating is currently “Hold.”

Ping An Insurance Co. of China Ltd. (OTCMKTS:PNGAY - Get Free Report) was the target of a large drop in short interest in October. As of October 15th, there was short interest totaling 199,227 shares, a drop of 40.2% from the September 30th total of 333,333 shares. Based on an average daily volume of 456,800 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.0% of the shares of the stock are sold short.

Ping An Insurance Co. of China Stock Down 0.3%

Shares of OTCMKTS PNGAY traded down $0.04 during mid-day trading on Friday, hitting $12.74. The company had a trading volume of 215,802 shares, compared to its average volume of 426,013. The company has a market capitalization of $116.45 billion, a PE ratio of 8.88 and a beta of 0.33. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.46 and a quick ratio of 0.47. Ping An Insurance Co. of China has a 1-year low of $12.03 and a 1-year high of $18.92. The business's 50-day simple moving average is $13.53 and its 200 day simple moving average is $15.15.

Ping An Insurance Co. of China (OTCMKTS:PNGAY - Get Free Report) last released its earnings results on Wednesday, October 28th. The company reported $0.06 EPS for the quarter. The firm had revenue of $25.55 billion during the quarter. Ping An Insurance Co. of China had a return on equity of 8.10% and a net margin of 9.67%. On average, analysts predict that Ping An Insurance Co. of China will post 2.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Zacks Research lowered Ping An Insurance Co. of China from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 21st. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

Ping An Insurance Co. of China Company Profile

Ping An Insurance (Group) Company of China Ltd. is a China-based integrated financial services group founded in 1988 and headquartered in Shenzhen. The company provides insurance, banking, investment and technology-related services through a range of subsidiaries and business units.

Its insurance operations include life and health insurance, property and casualty insurance, annuities and related financial protection products. Ping An also offers banking services, asset management and investment products, as well as healthcare and automotive-related services supported by its technology platforms.

Ping An primarily serves customers in mainland China through digital channels and an extensive network of agents, branches and service providers.

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