Schneider Electric SE (OTCMKTS:SBGSY) Shares Shorted: Short Interest Up 90.4% in October

Key Points

• Short interest rose 90.4% between mid- and late October to 245,510 shares, though that represents about 0.0% of shares outstanding; days to cover was 0.2.
• Analyst views remain generally positive: Schneider Electric has a “Moderate Buy” consensus from one Strong Buy, six Buy, and three Hold ratings, despite several recent downgrades.
• Shares traded at $53.80, near their one-year low of $50.11 and below both their 50-day ($59.55) and 200-day ($61.76) moving averages.

Schneider Electric SE (OTCMKTS:SBGSY - Get Free Report) was the recipient of a large growth in short interest in October. As of October 30th, there was short interest totaling 245,510 shares, a growth of 90.4% from the October 15th total of 128,934 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,054,758 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of Schneider Electric

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Azimuth Capital Investment Management LLC acquired a new stake in Schneider Electric during the second quarter worth $11,623,000. Elefante Mark B grew its holdings in shares of Schneider Electric by 10.0% during the 2nd quarter. Elefante Mark B now owns 96,539 shares of the industrial products company's stock worth $6,292,000 after purchasing an additional 8,800 shares during the period. Madison Asset Management LLC increased its position in shares of Schneider Electric by 2.7% during the 2nd quarter. Madison Asset Management LLC now owns 246,582 shares of the industrial products company's stock worth $16,072,000 after purchasing an additional 6,591 shares during the last quarter. Finally, Notis McConarty Edward increased its position in shares of Schneider Electric by 0.5% during the 2nd quarter. Notis McConarty Edward now owns 85,119 shares of the industrial products company's stock worth $5,548,000 after purchasing an additional 425 shares during the last quarter. Institutional investors and hedge funds own 0.83% of the company's stock.

Analyst Upgrades and Downgrades

SBGSY has been the topic of a number of research analyst reports. Santander lowered Schneider Electric from an "outperform" rating to a "neutral" rating in a research note on Tuesday, September 8th. Erste Group Bank downgraded shares of Schneider Electric from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 21st. Zacks Research lowered shares of Schneider Electric from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 3rd. Finally, Barclays reissued an "overweight" rating on shares of Schneider Electric in a research note on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy".

Schneider Electric Trading Up 0.1%

Shares of SBGSY traded up $0.08 during midday trading on Friday, reaching $53.80. The company had a trading volume of 925,281 shares, compared to its average volume of 667,415. Schneider Electric has a 1-year low of $50.11 and a 1-year high of $71.98. The firm has a 50 day simple moving average of $59.55 and a 200-day simple moving average of $61.76. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.56.

About Schneider Electric

Schneider Electric SE is a France-based company focused on energy management and industrial automation. It provides technologies and services that help businesses, infrastructure operators and households manage electricity, improve operational efficiency and support more sustainable energy use. Its offerings include electrical distribution and control equipment, building-management systems, industrial automation products, data-center power and cooling solutions, and related software and services.

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