NagaCorp Ltd. (OTCMKTS:NGCRF) Sees Large Increase in Short Interest

NagaCorp Ltd. (OTCMKTS:NGCRF) was the target of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 79,695 shares, an increase of 4,601.8% from the February 26th total of 1,695 shares. Based on an average daily trading volume, of 4,315 shares, the short-interest ratio is currently 18.5 days.

NagaCorp Price Performance

Shares of NGCRF stock opened at $0.52 on Thursday. NagaCorp has a fifty-two week low of $0.37 and a fifty-two week high of $0.80. The firm’s 50 day moving average price is $0.55 and its two-hundred day moving average price is $0.64.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upgraded NagaCorp to a “buy” rating in a report on Monday, December 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

NagaCorp Company Profile

NagaCorp Ltd is a Cayman Islands–incorporated company primarily engaged in the development, ownership and operation of integrated entertainment resorts in Cambodia. Its flagship property, NagaWorld, is located in the capital city of Phnom Penh and combines hotel accommodations, gaming facilities, dining venues and live entertainment under one roof. The resort caters to both mass-market and high-end clientele, offering a range of casino tables, electronic gaming machines and exclusive VIP gaming salons.

Beyond gaming, NagaWorld features multiple restaurants, retail outlets, conference and banquet spaces, as well as a theater that hosts cultural performances and international shows.