Svenska Cellulosa Aktiebolaget SCA (publ) (OTCMKTS:SCABY) Sees Large Growth in Short Interest

Svenska Cellulosa Aktiebolaget SCA (publ) (OTCMKTS:SCABY) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totaling 3,257 shares, a growth of 74.9% from the June 15th total of 1,862 shares. Based on an average daily volume of 3,029 shares, the short-interest ratio is presently 1.1 days.

Svenska Cellulosa Aktiebolaget SCA (publ) Stock Performance

Shares of OTCMKTS SCABY opened at C$10.79 on Friday. The company has a 50 day simple moving average of C$11.02 and a 200-day simple moving average of C$11.93. Svenska Cellulosa Aktiebolaget SCA has a 1 year low of C$9.45 and a 1 year high of C$14.60.

Analysts Set New Price Targets

Separately, BNP Paribas Exane began coverage on Svenska Cellulosa Aktiebolaget SCA (publ) in a research report on Wednesday, June 10th. They set a “neutral” rating on the stock. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

About Svenska Cellulosa Aktiebolaget SCA (publ)

Svenska Cellulosa Aktiebolaget SCA (publ) is a Sweden?based forestry and paper products company whose American depositary shares trade over the counter under the symbol SCABY. The company’s core operations encompass sustainable forest management, pulp production and the manufacture of renewable packaging materials. SCA positions itself as a provider of high?quality containerboard, corrugated packaging solutions and market pulp, serving a range of industries from food and beverage to e-commerce logistics.

SCA manages one of Europe’s largest private forest estates, principally located in northern Sweden, where it applies certified sustainable practices to balance wood production, biodiversity and carbon sequestration.