AB Volvo (OTCMKTS:VLVLY) Sees Large Increase in Short Interest

Key Points

• Short Interest Surge: Short interest in AB Volvo increased by 76.1% in August, reaching a total of 23,600 shares by the end of the month.
• Market Rating Changes: Goldman Sachs downgraded AB Volvo from a "buy" rating to a "neutral" rating; currently, the stock has a consensus rating of "Hold."
• Quarterly Earnings Report: AB Volvo reported an EPS of $0.69 for the last quarter, exceeding analysts' estimates of $0.53.

AB Volvo (OTCMKTS:VLVLY - Get Free Report) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 23,600 shares, an increase of 76.1% from the August 15th total of 13,400 shares. Currently, 0.0% of the company's shares are sold short. Based on an average trading volume of 100,400 shares, the days-to-cover ratio is presently 0.2 days. Based on an average trading volume of 100,400 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the company's shares are sold short.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group cut shares of AB Volvo from a "buy" rating to a "neutral" rating in a research report on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold".

AB Volvo Stock Down 0.8%

Shares of VLVLY stock traded down $0.24 during trading hours on Friday, reaching $29.30. 59,794 shares of the stock were exchanged, compared to its average volume of 46,650. The firm has a market capitalization of $59.58 billion, a P/E ratio of 13.89, a P/E/G ratio of 4.13 and a beta of 1.16. AB Volvo has a 12-month low of $22.55 and a 12-month high of $33.33. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.11 and a quick ratio of 0.86. The business's fifty day moving average is $29.50 and its two-hundred day moving average is $28.51.

AB Volvo (OTCMKTS:VLVLY - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.53 by $0.16. The company had revenue of $12.59 billion for the quarter, compared to analyst estimates of $122.35 billion. AB Volvo had a net margin of 8.90% and a return on equity of 23.77%. As a group, research analysts expect that AB Volvo will post 2.38 EPS for the current fiscal year.

AB Volvo Company Profile

AB Volvo (publ), together with its subsidiaries, manufactures and sells trucks, buses, construction equipment, and marine and industrial engines in Europe, the United States, Asia, Africa, and Oceania. The company provides heavy-duty trucks for long-haulage and construction work and light-duty trucks for distribution purposes under the Volvo, Renault Trucks, Mack, Eicher, and Dongfeng Trucks brands; and city and intercity buses, coaches, and chassis under the Prevost and Volvo Bus brands.