Short Interest in SSE PLC (OTCMKTS:SSEZY) Drops By 50.2%

Key Points

• Short interest in SSE PLC has significantly decreased, dropping by 50.2% to 69,000 shares as of July 31, reflecting a positive shift in market sentiment.
• SSE recently declared a dividend of $0.537 per share with a yield of 310.0%, an increase from the previous dividend of $0.27.
• Analysts maintain a consensus Buy rating on SSE shares, indicating ongoing confidence in the company's performance and potential growth.

SSE PLC (OTCMKTS:SSEZY - Get Free Report) was the recipient of a large decline in short interest in July. As of July 31st, there was short interest totaling 69,000 shares, adeclineof50.2% from the July 15th total of 138,600 shares. Based on an average daily volume of 344,400 shares, the days-to-cover ratio is presently 0.2 days. Currently,0.0% of the company's stock are short sold. Currently,0.0% of the company's stock are short sold. Based on an average daily volume of 344,400 shares, the days-to-cover ratio is presently 0.2 days.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley reissued an "overweight" rating on shares of SSE in a research report on Friday, May 23rd. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy".

SSE Stock Down 0.1%

OTCMKTS SSEZY traded down $0.03 during mid-day trading on Thursday, reaching $24.31. The stock had a trading volume of 46,697 shares, compared to its average volume of 151,677. SSE has a 1 year low of $18.60 and a 1 year high of $27.3150. The company has a fifty day moving average price of $25.14 and a 200 day moving average price of $22.66. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.01 and a quick ratio of 0.91.

SSE Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, September 25th. Investors of record on Monday, July 28th will be issued a $0.537 dividend. This represents a yield of 310.0%. The ex-dividend date is Friday, July 25th. This is a positive change from SSE's previous dividend of $0.27.

SSE Company Profile

SSE plc engages in the generation, transmission, distribution, and supply of electricity. It generates electricity from water, gas, coal, oil, and multi fuel. The company distributes electricity to approximately 3.8 million homes and businesses across the north of the central belt of Scotland and central southern England; and owns, operates, and develops high voltage electricity transmission system in the north of Scotland and remote islands.