Saab AB - Unsponsored ADR (OTCMKTS:SAABY) Stock Short Interest Drops 51.6%

Key Points

• Saab’s short interest fell 51.6% to 14,979 shares as of September 15, representing 0.0% of shares outstanding and only 0.1 days of average trading volume.
• Shares recently traded at $30.58, down $0.38, with a $32.74 billion market capitalization; the stock has ranged from $23.29 to $40.77 over the past year.
• Analyst sentiment is generally positive: Barclays and Pareto Securities upgraded Saab to “strong buy,” while other firms moved to “hold,” resulting in a consensus rating of “Moderate Buy.”

Saab AB - Unsponsored ADR (OTCMKTS:SAABY - Get Free Report) was the target of a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 14,979 shares, a drop of 51.6% from the August 31st total of 30,951 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 121,031 shares, the short-interest ratio is currently 0.1 days.

Saab Stock Performance

Shares of Saab stock traded down $0.38 during trading on Tuesday, hitting $30.58. 34,161 shares of the company's stock were exchanged, compared to its average volume of 147,519. The stock has a market capitalization of $32.74 billion, a price-to-earnings ratio of 43.69 and a beta of -0.12. The business has a 50-day simple moving average of $32.19 and a 200-day simple moving average of $30.84. Saab has a 52-week low of $23.29 and a 52-week high of $40.77. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.82 and a current ratio of 1.23.

Saab (OTCMKTS:SAABY - Get Free Report) last announced its quarterly earnings results on Friday, July 17th. The company reported $0.21 earnings per share for the quarter. The company had revenue of $2.72 billion for the quarter. Saab had a return on equity of 15.87% and a net margin of 8.05%.

Analyst Upgrades and Downgrades

SAABY has been the subject of several research reports. Barclays upgraded shares of Saab from a "strong sell" rating to a "strong-buy" rating in a research note on Monday, August 10th. Kepler Capital Markets upgraded Saab from a "strong sell" rating to a "hold" rating in a research note on Monday, July 20th. Pareto Securities raised Saab from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 25th. Finally, Royal Bank Of Canada upgraded Saab to a "hold" rating in a research note on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy".

About Saab

Saab AB is a Swedish defense and security company that develops, manufactures and maintains advanced systems for governments, armed forces and other public-sector customers. The company's activities span aeronautics, weapons systems, command and control, sensors, surveillance, naval systems and cybersecurity.

Its product portfolio includes the Gripen fighter aircraft, GlobalEye airborne early warning and control system, radar and electronic warfare solutions, the Carl-Gustaf recoilless rifle, AT4 anti-armor weapon and RBS 70 air-defense system.

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