Short Interest in Sappi Ltd. (OTCMKTS:SPPJY) Increases By 201.7%

Key Points

• Sappi Ltd. experienced a notable increase in short interest, jumping by 201.7% from 11,700 shares to 35,300 shares in September.
• The stock is currently rated "Sell" by analysts, with a recent upgrade to a "strong sell" from Zacks Research.
• Sappi's stock has declined 8.0%, with its latest earnings report revealing a loss of ($0.04) per share, missing analysts' expectations.

Sappi Ltd. (OTCMKTS:SPPJY - Get Free Report) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totaling 35,300 shares, an increase of 201.7% from the September 15th total of 11,700 shares. Based on an average trading volume of 11,400 shares, the short-interest ratio is currently 3.1 days. Based on an average trading volume of 11,400 shares, the short-interest ratio is currently 3.1 days.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Sappi to a "strong sell" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Sappi has an average rating of "Sell".

Sappi Stock Down 8.0%

SPPJY stock opened at $1.28 on Friday. Sappi has a twelve month low of $1.11 and a twelve month high of $3.20. The company has a quick ratio of 0.62, a current ratio of 1.24 and a debt-to-equity ratio of 0.63. The stock's 50 day moving average is $1.54 and its 200-day moving average is $1.74. The firm has a market capitalization of $715.83 million, a PE ratio of 7.52 and a beta of 0.87.

Sappi (OTCMKTS:SPPJY - Get Free Report) last posted its earnings results on Thursday, August 7th. The basic materials company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.07). Sappi had a net margin of 1.75% and a return on equity of 6.12%. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.35 billion.

About Sappi

Sappi Limited, together with its subsidiaries, engages in the provision of materials made from woodfiber-based renewable resources in Europe, North America, and South Africa. The company manufacture and sells dissolving pulp, and wood and paper pulp; graphic papers, coated and uncoated papers, and casting and release papers; and packaging and specialty papers, including packaging and specialty papers, including flexible packaging papers, label papers, functional paper packaging products, containerboards, paperboards, silicone base papers, and dye sublimation papers.

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