SSE PLC (OTCMKTS:SSEZY) Sees Significant Drop in Short Interest

Key Points

• SSE PLC experienced a dramatic 88.5% decrease in short interest in September, dropping from 33,900 shares to just 3,900 shares.
• The company recently increased its dividend to $0.537 per share, reflecting a substantial boost from the prior dividend of $0.27.
• Zacks Research has revised SSE's rating from "strong-buy" to "hold," indicating a more cautious outlook despite a mix of ratings from analysts.

SSE PLC (OTCMKTS:SSEZY - Get Free Report) was the target of a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 3,900 shares, a decrease of 88.5% from the August 31st total of 33,900 shares. Based on an average daily volume of 181,100 shares, the days-to-cover ratio is currently 0.0 days. Based on an average daily volume of 181,100 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analysts Forecast Growth

Separately, Zacks Research lowered SSE from a "strong-buy" rating to a "hold" rating in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy".

SSE Price Performance

OTCMKTS:SSEZY traded up $0.37 during mid-day trading on Tuesday, reaching $23.39. 484,362 shares of the stock were exchanged, compared to its average volume of 154,970. The business has a fifty day moving average price of $23.80 and a 200 day moving average price of $23.42. SSE has a 1-year low of $18.60 and a 1-year high of $27.32. 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 business also recently disclosed a dividend, which was paid on Thursday, September 25th. Stockholders of record on Monday, July 28th were given a dividend of $0.537 per share. This is a boost from SSE's previous dividend of $0.27. The ex-dividend date was Friday, July 25th. This represents a dividend yield of 310.0%.

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.

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