Short Interest in Brenntag AG (OTCMKTS:BNTGY) Decreases By 81.6%

Key Points

• Short interest in Brenntag fell 81.6% to 2,347 shares as of August 14, representing virtually no shares sold short and a short-interest ratio of 0.1 days.
• Analyst sentiment remains cautious: eight analysts rate the stock Hold and one rates it Sell, producing a consensus “Reduce” rating and a $12.80 price target.
• Brenntag exceeded quarterly expectations, reporting $0.29 EPS versus the $0.25 estimate and revenue of $4.96 billion versus $4.66 billion expected. Shares opened at $14.15, near their 52-week high of $14.97.

Brenntag AG (OTCMKTS:BNTGY - Get Free Report) was the target of a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 2,347 shares, a decrease of 81.6% from the July 30th total of 12,781 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 24,155 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analyst Weigh In

Several brokerages have commented on BNTGY. Morgan Stanley reissued an "underweight" rating on shares of Brenntag in a report on Friday, August 14th. UBS Group upgraded Brenntag from a "sell" rating to a "neutral" rating in a research report on Thursday, April 30th. Jefferies Financial Group raised Brenntag from a "moderate sell" rating to a "hold" rating in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft lowered Brenntag from a "buy" rating to a "hold" rating in a research note on Tuesday, June 16th. Finally, DZ Bank upgraded Brenntag from a "strong sell" rating to a "hold" rating in a research note on Monday, July 27th. Eight equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $12.80.

Brenntag Price Performance

BNTGY stock opened at $14.15 on Wednesday. Brenntag has a one year low of $10.19 and a one year high of $14.97. The stock has a market cap of $10.22 billion, a PE ratio of 23.98 and a beta of 0.63. The firm has a 50 day simple moving average of $13.42 and a two-hundred day simple moving average of $13.18.

Brenntag (OTCMKTS:BNTGY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. Brenntag had a net margin of 2.41% and a return on equity of 8.34%. The firm had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $4.66 billion. On average, research analysts expect that Brenntag will post 0.8 EPS for the current fiscal year.

Brenntag Company Profile

Brenntag SE, trading on OTCMKTS as BNTGY, is a global market leader in the distribution of chemicals and ingredients. With headquarters in Essen, Germany, the company serves a wide range of industries including coatings and construction, cleaning and water treatment, food and nutrition, pharmaceuticals and personal care, as well as oil and gas. Brenntag operates through two core segments—Essentials and Specialties—offering both standard commodity chemicals and tailored specialty solutions to customers around the world.

Its product portfolio encompasses inorganic and organic chemicals, polymers, petrochemicals and specialty ingredients.

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