Short Interest in MPC Container Ships ASA (OTCMKTS:MPZZF) Declines By 50.9%

MPC Container Ships ASA (OTCMKTS:MPZZF) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 1,666,142 shares, a drop of 50.9% from the May 31st total of 3,391,738 shares. Based on an average daily trading volume, of 66,180 shares, the days-to-cover ratio is currently 25.2 days.

Analyst Upgrades and Downgrades

Separately, Pareto Securities upgraded shares of MPC Container Ships ASA to a “hold” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

MPC Container Ships ASA Stock Performance

Shares of OTCMKTS:MPZZF remained flat at $2.60 during midday trading on Tuesday. 2,700 shares of the company were exchanged, compared to its average volume of 21,698. The company’s 50 day simple moving average is $2.50 and its two-hundred day simple moving average is $2.18. MPC Container Ships ASA has a fifty-two week low of $1.44 and a fifty-two week high of $2.85.

MPC Container Ships ASA Company Profile

MPC Container Ships ASA operates as a pure?play container vessel owner and charterer, specializing in the acquisition and long?term chartering of modern container ships. Incorporated in Norway, the company focuses on securing a diversified fleet of gearless vessels, which are then chartered out to established liner operators under fixed?rate time and bareboat agreements. This asset?light model allows MPC Container Ships to benefit from contracted cash flows while mitigating exposure to spot market volatility.

The company’s fleet consists of medium?sized container vessels ranging in capacity from approximately 1,000 TEU to 4,500 TEU, with an emphasis on younger, fuel?efficient ships.