Saab AB - Unsponsored ADR (OTCMKTS:SAABY) Sees Large Decline in Short Interest

Key Points

• Short interest in Saab AB - Unsponsored ADR declined by 70.4% in August, falling from 28,000 shares to just 8,300 shares as of August 15th.
• Multiple analysts have updated their ratings on Saab, with Citigroup downgrading the stock from a "strong-buy" to a "strong sell" while others like Pareto Securities upgraded it to a "hold" rating.
• Saab's stock is currently priced at $28.04 and has shown a 52-week high of $28.99 and a low of $9.68, with a market capitalization of approximately $30.02 billion.

Saab AB - Unsponsored ADR (OTCMKTS:SAABY - Get Free Report) was the target of a large drop in short interest in the month of August. As of August 15th, there was short interest totaling 8,300 shares, adropof70.4% from the July 31st total of 28,000 shares. Based on an average daily volume of 203,500 shares, the days-to-cover ratio is currently 0.0 days. Based on an average daily volume of 203,500 shares, the days-to-cover ratio is currently 0.0 days.

Saab Trading Up 2.3%

OTCMKTS:SAABY traded up $0.62 on Friday, reaching $27.35. 71,431 shares of the company's stock were exchanged, compared to its average volume of 113,285. The company has a quick ratio of 0.84, a current ratio of 1.30 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $29.28 billion and a price-to-earnings ratio of 44.84. The business has a fifty day moving average of $26.87 and a 200-day moving average of $23.53. Saab has a 52-week low of $9.68 and a 52-week high of $28.99.

Saab (OTCMKTS:SAABY - Get Free Report) last released its earnings results on Friday, July 18th. The company reported $0.29 earnings per share for the quarter. Saab had a net margin of 7.45% and a return on equity of 13.82%. The firm had revenue of $2.05 billion for the quarter.

Wall Street Analyst Weigh In

SAABY has been the topic of a number of research analyst reports. Pareto Securities raised shares of Saab to a "hold" rating in a research note on Monday, July 21st. Citigroup cut shares of Saab from a "strong-buy" rating to a "strong sell" rating in a research report on Tuesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold".

Saab Company Profile

Saab AB (publ) provides products, services, and solutions for military defense, aviation, and civil security markets worldwide. The company operates through Aeronautics, Dynamics, Surveillance, Kockums, and Combitech segments. The company develops military aviation technology, as well as conducts studies on manned and unmanned aircraft.