Short Interest in AB Volvo (OTCMKTS:VLVLY) Expands By 1,056.4%

Key Points

• Short interest in AB Volvo surged to 686,524 shares as of June 30, a jump of 1,056.4% from mid-June, though the short-interest ratio remains low at about 1.0 day.
• The stock edged up 1.1% to $34.92, trading near its 50-day and 200-day moving averages with a market cap of about $71.02 billion.
• Recent results were below expectations, as AB Volvo reported $0.45 EPS versus the $0.51 consensus and revenue of $11.98 billion versus $12.42 billion expected; analysts currently rate the stock a Moderate Buy.

AB Volvo (OTCMKTS:VLVLY - Get Free Report) saw a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 686,524 shares, a growth of 1,056.4% from the June 15th total of 59,367 shares. Based on an average trading volume of 714,100 shares, the short-interest ratio is presently 1.0 days. Approximately 0.0% of the company's stock are sold short.

AB Volvo Stock Up 1.1%

OTCMKTS:VLVLY traded up $0.38 on Friday, hitting $34.92. The stock had a trading volume of 60,568 shares, compared to its average volume of 164,766. The business's fifty day moving average is $34.06 and its 200 day moving average is $34.63. The company has a market cap of $71.02 billion, a PE ratio of 17.20, a P/E/G ratio of 0.78 and a beta of 1.19. The company has a quick ratio of 0.91, a current ratio of 1.19 and a debt-to-equity ratio of 0.80. AB Volvo has a 52 week low of $26.11 and a 52 week high of $39.62.

AB Volvo (OTCMKTS:VLVLY - Get Free Report) last announced its quarterly earnings data on Friday, April 24th. The company reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.06). The firm had revenue of $11.98 billion during the quarter, compared to analyst estimates of $12.42 billion. AB Volvo had a net margin of 8.32% and a return on equity of 22.17%. On average, equities research analysts expect that AB Volvo will post 2.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Pareto Securities upgraded shares of AB Volvo to a "strong-buy" rating in a report on Thursday, June 11th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy".

About AB Volvo

AB Volvo (Volvo Group) is a Swedish multinational manufacturing company headquartered in Gothenburg. The company designs, manufactures and sells a broad range of commercial vehicles and related systems, including heavy- and medium-duty trucks, buses, and construction equipment. In addition to vehicles and machinery, Volvo supplies marine and industrial power systems through its Volvo Penta division and offers parts, service, telematics and financing solutions to commercial customers worldwide.

Key product and business lines include Volvo Trucks and Mack-branded heavy trucks, a global bus and coach offering, Volvo Construction Equipment, and power systems for marine and industrial applications.

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