The Bank of East Asia Ltd. (OTCMKTS:BKEAY) Short Interest Update

Key Points

• Short interest in The Bank of East Asia Ltd. surged by 13,700.0% in July, rising to 13,800 shares compared to only 100 shares on June 30th.
• The bank's shares dipped by 1.0% to $1.52, amid trading volumes surpassing its average with a 50-day simple moving average of $1.48.
• Goldman Sachs has downgraded the bank's stock to a "sell" rating, indicating reduced confidence in its future performance.

The Bank of East Asia Ltd. (OTCMKTS:BKEAY - Get Free Report) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 13,800 shares, agrowthof13,700.0% from the June 30th total of 100 shares. Based on an average trading volume of 4,200 shares, the days-to-cover ratio is presently 3.3 days. Based on an average trading volume of 4,200 shares, the days-to-cover ratio is presently 3.3 days.

Bank of East Asia Stock Down 1.0%

Shares of OTCMKTS:BKEAY traded down $0.02 on Friday, reaching $1.52. 3,170 shares of the company traded hands, compared to its average volume of 1,555. The business's 50-day simple moving average is $1.48 and its 200 day simple moving average is $1.39. Bank of East Asia has a 52 week low of $1.06 and a 52 week high of $1.63.

Analyst Ratings Changes

Separately, The Goldman Sachs Group cut Bank of East Asia to a "sell" rating in a research note on Tuesday, April 15th.

About Bank of East Asia

The Bank of East Asia, Limited, together with its subsidiaries, provides various banking and related financial services. Its personal banking services include corporate, individual, savings, current, time deposit, and supreme accounts; and time deposits, foreign currency deposits, MAS services, and auto-payroll products, as well as safe deposit boxes and remittance services.

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