Short Interest in Magazine Luiza S.A. (OTCMKTS:MGLUY) Expands By 79.0%

Magazine Luiza S.A. (OTCMKTS:MGLUY) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 757 shares, an increase of 79.0% from the May 31st total of 423 shares. Based on an average daily trading volume, of 359 shares, the short-interest ratio is currently 2.1 days.

Analyst Ratings Changes

Separately, Citigroup upgraded shares of Magazine Luiza to a “neutral” rating in a research note on Friday, June 5th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Magazine Luiza Price Performance

Shares of OTCMKTS MGLUY opened at $3.33 on Friday. The business’s 50 day moving average price is $4.99 and its two-hundred day moving average price is $6.35. Magazine Luiza has a twelve month low of $3.25 and a twelve month high of $8.58.

About Magazine Luiza

Magazine Luiza SA engages in the retail sale of consumer goods. It operates through Retail, Financial Operations, Insurance Operations, and Other Services segments. The company also grants credit and provides extended warranties for its products. In addition, it is involved in the provision of consortium and management services; and e-commerce of perfumes, cosmetics, sports, and fashion products, as well as product delivery management and software development services. Further, the company provides integration, logistics, and technological solutions, as well as resale goods and provision of services in the stores, electronic and food delivery management platform.