Short Interest in Standard Bank Group Limited (OTCMKTS:SGBLY) Grows By 166.3%

Standard Bank Group Limited (OTCMKTS:SGBLY) was the target of a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 18,484 shares, an increase of 166.3% from the May 14th total of 6,942 shares. Based on an average daily volume of 56,597 shares, the days-to-cover ratio is presently 0.3 days.

Standard Bank Group Price Performance

Standard Bank Group stock traded up $0.77 during mid-day trading on Friday, hitting $19.60. The stock had a trading volume of 175 shares, compared to its average volume of 55,337. Standard Bank Group has a 12 month low of $12.22 and a 12 month high of $20.63. The stock has a 50-day simple moving average of $19.08 and a two-hundred day simple moving average of $18.36.

Analysts Set New Price Targets

Separately, HSBC downgraded shares of Standard Bank Group to a “hold” rating in a report on Monday, May 4th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Standard Bank Group currently has a consensus rating of “Hold”.

Standard Bank Group Company Profile

Standard Bank Group Limited is a South African financial services conglomerate headquartered in Johannesburg, offering a comprehensive range of banking and related services. Established in 1862, the group has grown to become one of Africa’s largest banks, serving individuals, small and medium-sized enterprises, and large corporations. Its core activities encompass personal and business banking, corporate and investment banking, wealth management, and insurance.

Within its personal and business banking division, Standard Bank provides transactional accounts, savings and deposits, mortgage lending, vehicle and asset finance, as well as payment solutions and digital banking platforms.