Scully Royalty Ltd. (NYSE:SRL) Sees Significant Drop in Short Interest

Key Points

• Scully Royalty Ltd. (NYSE:SRL) experienced a significant drop in short interest by 29.4% in September, with total short interest reducing from 1,700 shares to 1,200 shares.
• The current days-to-cover ratio for Scully Royalty is 0.3 days, indicating a low level of short selling activity with approximately 0.0% of shares shorted.
• Despite recent performance improvement in stock trading, analysts maintain a general "sell" rating on Scully Royalty shares, per a recent report by Weiss Ratings.

Scully Royalty Ltd. (NYSE:SRL - Get Free Report) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 1,200 shares, a drop of 29.4% from the September 15th total of 1,700 shares. Based on an average daily volume of 4,700 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.0% of the shares of the company are short sold. Approximately 0.0% of the shares of the company are short sold. Based on an average daily volume of 4,700 shares, the days-to-cover ratio is currently 0.3 days.

Scully Royalty Stock Performance

SRL stock traded up $0.04 during mid-day trading on Thursday, reaching $5.86. The company had a trading volume of 71,250 shares, compared to its average volume of 5,482. Scully Royalty has a one year low of $5.13 and a one year high of $9.99. The stock's 50-day simple moving average is $5.57 and its two-hundred day simple moving average is $6.26.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "sell (d)" rating on shares of Scully Royalty in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of "Sell".

About Scully Royalty

Scully Royalty Ltd. operates as an iron ore mining company in the Americas, Africa, Canada, Asia, and Europe. It operates through three segments: Royalty, Industrial, and Merchant Banking. The company holds royalty interest in the Scully iron ore mine located in the Province of Newfoundland and Labrador, Canada.

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