Hannover Ruck SE (OTCMKTS:HVRRY) Sees Large Decline in Short Interest

Hannover Ruck SE (OTCMKTS:HVRRY) was the target of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 17 shares, a drop of 99.7% from the May 14th total of 6,394 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average trading volume of 70,106 shares, the days-to-cover ratio is presently 0.0 days.

Hannover Ruck Trading Up 1.5%

Shares of Hannover Ruck stock opened at $43.82 on Wednesday. The company’s fifty day simple moving average is $49.39 and its 200-day simple moving average is $49.39. The stock has a market capitalization of $31.71 billion, a PE ratio of 10.36 and a beta of 0.20. Hannover Ruck has a 1-year low of $43.00 and a 1-year high of $55.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.06 and a quick ratio of 0.06.

Hannover Ruck (OTCMKTS:HVRRY) last issued its quarterly earnings results on Monday, May 11th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.40). The business had revenue of $8.16 billion for the quarter, compared to analysts’ expectations of $8.54 billion. Hannover Ruck had a return on equity of 20.27% and a net margin of 9.84%. As a group, equities analysts anticipate that Hannover Ruck will post 4.67 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Berenberg Bank upgraded shares of Hannover Ruck to a “strong-buy” rating in a research note on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Hannover Ruck currently has an average rating of “Buy”.

About Hannover Ruck

Hannover Rück (OTCMKTS: HVRRY), commonly known as Hannover Re, is a global reinsurance group headquartered in Hannover, Germany. The company underwrites treaty and facultative reinsurance across a broad spectrum of risks, including property & casualty and life & health lines. Its product suite encompasses traditional proportional and non?proportional treaty contracts, facultative placements, structured reinsurance, retrocession, and capital market–linked solutions such as insurance?linked securities, tailored to transfer and manage insurance risk for primary insurers and other reinsurers.

Founded in the 1960s, Hannover Re has developed into one of the major international reinsurers, building a presence across Europe, the Americas, Asia?Pacific and other global markets.