Short Interest in Saab AB - Unsponsored ADR (OTCMKTS:SAABY) Increases By 155.1%

Key Points

• Short interest in Saab’s unsponsored ADR surged 155.1% to 88,717 shares as of July 31, up from 34,780 shares two weeks earlier. Short interest remains negligible at 0.0% of shares outstanding, with a days-to-cover ratio of 0.4.
• Analyst sentiment improved, with Barclays and Pareto Securities upgrading Saab to “strong buy,” while Kepler Capital Markets, Citigroup, and RBC moved their ratings to “hold.” The stock carries a consensus “Moderate Buy” rating.
• Saab reported quarterly revenue of $2.72 billion and earnings of $0.21 per share. Its shares opened at $35.71, compared with a 52-week range of $23.29 to $40.77, and the company has a $38.23 billion market capitalization.

Saab AB - Unsponsored ADR (OTCMKTS:SAABY - Get Free Report) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totaling 88,717 shares, a growth of 155.1% from the July 15th total of 34,780 shares. Currently, 0.0% of the company's stock are sold short. Based on an average daily volume of 208,329 shares, the days-to-cover ratio is presently 0.4 days.

Analysts Set New Price Targets

Several analysts recently issued reports on SAABY shares. Barclays upgraded Saab from a "strong sell" rating to a "strong-buy" rating in a report on Monday. Kepler Capital Markets upgraded shares of Saab from a "strong sell" rating to a "hold" rating in a research note on Monday, July 20th. Citigroup raised Saab from a "strong sell" rating to a "hold" rating in a research report on Monday, May 18th. Pareto Securities raised shares of Saab from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 25th. Finally, Royal Bank Of Canada upgraded shares of Saab to a "hold" rating in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy".

Saab Price Performance

Saab stock opened at $35.71 on Friday. The business's fifty day moving average is $29.21 and its two-hundred day moving average is $31.86. The firm has a market cap of $38.23 billion, a P/E ratio of 51.01 and a beta of -0.14. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.82 and a current ratio of 1.23. Saab has a 52 week low of $23.29 and a 52 week high of $40.77.

Saab (OTCMKTS:SAABY - Get Free Report) last released its quarterly earnings results on Friday, July 17th. The company reported $0.21 EPS for the quarter. Saab had a net margin of 8.05% and a return on equity of 15.87%. The business had revenue of $2.72 billion for the quarter.

About Saab

Saab AB is a Sweden-based aerospace and defense company that develops, manufactures and supplies products, services and solutions for military and civil security markets. Founded in 1937 as an aircraft manufacturer, the company has diversified into areas including combat aircraft, airborne surveillance, radar and sensor systems, missiles and weapons, naval vessels and underwater systems, as well as command-and-control, training and simulation and cybersecurity solutions.

In aeronautics, Saab is best known for its Gripen family of multi-role fighter aircraft and for airborne surveillance solutions that integrate radars and sensors.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source