Short Interest in Electrolux AB (OTCMKTS:ELUXY) Decreases By 86.4%

Key Points

• Short interest in Electrolux AB decreased by 86.4% in September, dropping from 6,600 shares to just 900 shares, with a days-to-cover ratio of 0.3 days based on an average trading volume of 2,700 shares.
• Recent analyst reports have highlighted a shift in sentiment for Electrolux, with Deutsche Bank initiating coverage with a "hold" rating and Zacks upgrading the stock from "strong sell" to "hold," resulting in an overall average rating of "Hold."
• Electrolux reported $0.13 earnings per share for its last quarter, which was significantly below analysts' expectations of $0.53, alongside a revenue miss with actuals of $3.20 billion versus projections of $33.03 billion.

Electrolux AB (OTCMKTS:ELUXY - Get Free Report) was the target of a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 900 shares, a decline of 86.4% from the September 15th total of 6,600 shares. Based on an average trading volume of 2,700 shares, the days-to-cover ratio is presently 0.3 days. Based on an average trading volume of 2,700 shares, the days-to-cover ratio is presently 0.3 days.

Analyst Upgrades and Downgrades

ELUXY has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Electrolux in a research note on Tuesday. They issued a "hold" rating on the stock. Zacks Research upgraded Electrolux from a "strong sell" rating to a "hold" rating in a research report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold".

Electrolux Stock Performance

Shares of Electrolux stock traded up $0.31 on Friday, hitting $11.40. The stock had a trading volume of 453 shares, compared to its average volume of 3,345. Electrolux has a 52-week low of $10.80 and a 52-week high of $20.11. The company's 50 day moving average price is $11.65 and its 200 day moving average price is $12.98. The company has a current ratio of 0.96, a quick ratio of 0.59 and a debt-to-equity ratio of 4.02. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 126.68 and a beta of 1.10.

Electrolux (OTCMKTS:ELUXY - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.40). Electrolux had a return on equity of 1.61% and a net margin of 0.11%.The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $33.03 billion. On average, research analysts anticipate that Electrolux will post 2.13 EPS for the current year.

About Electrolux

AB Electrolux (publ), together with its subsidiaries, manufactures and sells household appliances worldwide. The company offers various appliances, such as refrigerators, freezers, cookers, dryers, washing machines, dishwashers, room air-conditioners, microwave ovens, floor-care products, vacuum cleaners, water heaters, heat pumps, and other small domestic appliances, as well as consumables and accessories.

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