Short Interest in Voestalpine AG (OTCMKTS:VLPNY) Declines By 80.4%

Key Points

• Short interest in Voestalpine AG plunged 80.4% in June, falling to 786 shares from 4,016 shares two weeks earlier. The stock now has virtually no shares sold short, with a days-to-cover ratio of just 0.2 days.
• Analyst sentiment is still mixed but leans positive: Deutsche Bank reiterated a buy rating, while UBS downgraded the stock to neutral and Citigroup repeated a neutral view. Overall, MarketBeat shows a consensus rating of Moderate Buy.
• The stock rose 0.2% to $9.83 and recently reported quarterly earnings that beat expectations, with EPS of $0.23 versus $0.21 expected and revenue of $4.59 billion versus $4.19 billion projected.

Voestalpine AG (OTCMKTS:VLPNY - Get Free Report) was the target of a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 786 shares, a drop of 80.4% from the June 15th total of 4,016 shares. Based on an average trading volume of 3,640 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the company's stock are sold short.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Voestalpine in a research report on Thursday, June 4th. UBS Group lowered Voestalpine from a "buy" rating to a "neutral" rating in a research note on Monday, June 8th. Finally, Citigroup reiterated a "neutral" rating on shares of Voestalpine in a report on Thursday, June 11th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Voestalpine currently has a consensus rating of "Moderate Buy".

Voestalpine Stock Up 0.2%

OTCMKTS VLPNY traded up $0.02 on Friday, hitting $9.83. The stock had a trading volume of 1,825 shares, compared to its average volume of 961. The business's fifty day moving average price is $10.29 and its 200 day moving average price is $9.85. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.35 and a quick ratio of 0.55. Voestalpine has a 52-week low of $5.30 and a 52-week high of $11.78. The stock has a market cap of $8.43 billion, a price-to-earnings ratio of 16.11 and a beta of 1.46.

Voestalpine (OTCMKTS:VLPNY - Get Free Report) last issued its quarterly earnings data on Wednesday, June 3rd. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.21 by $0.02. Voestalpine had a return on equity of 5.98% and a net margin of 2.97%.The firm had revenue of $4.59 billion during the quarter, compared to analyst estimates of $4.19 billion. Equities research analysts anticipate that Voestalpine will post 0.84 earnings per share for the current year.

Voestalpine Company Profile

Voestalpine AG is a leading steel-based technology and capital goods group headquartered in Linz, Austria. The company specializes in the production of high-quality steel and sophisticated components for a range of industries, including automotive, railway systems, aerospace, energy, and construction. It operates across all major processing steps in steel production, from raw‐material processing and steelmaking to downstream activities such as coating, processing, and assembly.

Voestalpine's portfolio is organized into several business divisions.

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