Associated British Foods PLC (OTCMKTS:ASBFY) Short Interest Up 161.7% in August

Associated British Foods PLC (OTCMKTS:ASBFY) saw a significant increase in short interest in August. As of August 31st, there was short interest totaling 21,907 shares, an increase of 161.7% from the August 15th total of 8,370 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 42,367 shares, the days-to-cover ratio is presently 0.5 days.

Associated British Foods Stock Performance

Shares of OTCMKTS:ASBFY opened at $25.06 on Monday. The company has a 50 day moving average of $27.45 and a 200 day moving average of $25.99. The company has a quick ratio of 0.69, a current ratio of 1.51 and a debt-to-equity ratio of 0.26. Associated British Foods has a 12 month low of $23.36 and a 12 month high of $31.11.

Wall Street Analyst Weigh In

Separately, Zacks Research raised Associated British Foods from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Associated British Foods currently has an average rating of “Reduce”.

About Associated British Foods

Associated British Foods plc is a diversified international food, ingredients, agriculture and retail group. The company operates through five principal businesses: Grocery, Ingredients, Agriculture, Sugar and Retail. Its food products include tea, coffee, cereal, bread, baking ingredients, condiments and other grocery items sold under brands such as Twinings, Ovaltine, Jordans, Ryvita, Kingsmill and Silver Spoon.

Through its ingredients operations, Associated British Foods supplies yeast, bakery ingredients and other specialty ingredients to food manufacturers and commercial bakeries.