Short Interest in Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY) Expands By 133.0%

Key Points

• Short interest in Oversea‑Chinese Banking (OTCMKTS:OVCHY) rose by 133.0% to 60,928 shares as of March 31 (from 26,144 on March 15), with a days‑to‑cover of 0.5 based on average daily volume and roughly 0.0% of shares reported sold short.
• Zacks Research downgraded OCBC from "strong‑buy" to "hold," and the stock's average rating on MarketBeat is currently "Hold."
• OVCHY opened at $35.43, trading above its 50‑day ($33.62) and 200‑day ($30.43) moving averages and near its 1‑year high of $36.17.

Oversea-Chinese Banking Corporation Limited (OTCMKTS:OVCHY - Get Free Report) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totaling 60,928 shares, a growth of 133.0% from the March 15th total of 26,144 shares. Based on an average daily volume of 132,457 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.0% of the shares of the stock are sold short.

Analyst Ratings Changes

Separately, Zacks Research cut Oversea-Chinese Banking from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of "Hold".

Oversea-Chinese Banking Stock Performance

OTCMKTS OVCHY opened at $35.43 on Friday. The business has a 50 day simple moving average of $33.62 and a two-hundred day simple moving average of $30.43. Oversea-Chinese Banking has a 1-year low of $22.47 and a 1-year high of $36.17.

Oversea-Chinese Banking Company Profile

Oversea-Chinese Banking Corporation Limited (commonly known as OCBC) is a Singapore-based regional bank that provides a broad range of banking and financial services to retail, corporate and institutional customers. Its core activities include consumer banking, wealth management, commercial and corporate banking, treasury and markets, trade finance, and transaction banking. OCBC also conducts investment banking activities and offers asset management services, and its group structure includes insurance and other financial services delivered through affiliated subsidiaries and regional units.

The bank traces its origins to a 1932 merger of several Chinese-named banks in Singapore and has since grown into one of the region's larger financial institutions with a significant presence across Southeast Asia and Greater China.

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