Rheinmetall AG Unsponsored ADR (OTCMKTS:RNMBY) Sees Significant Decline in Short Interest

Rheinmetall AG Unsponsored ADR (OTCMKTS:RNMBY) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 5,512 shares, a drop of 51.2% from the August 15th total of 11,299 shares. Based on an average daily trading volume, of 85,625 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the shares of the company are short sold.

Rheinmetall Stock Performance

OTCMKTS:RNMBY opened at $230.77 on Tuesday. The stock has a 50-day moving average price of $251.64 and a 200 day moving average price of $291.70. The stock has a market capitalization of $53.85 billion, a P/E ratio of 79.30 and a beta of 0.17. Rheinmetall has a 12-month low of $211.20 and a 12-month high of $468.90. The company has a current ratio of 1.00, a quick ratio of 0.50 and a debt-to-equity ratio of 0.21.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RNMBY. Zacks Research upgraded Rheinmetall from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 1st. Oddo Bhf upgraded shares of Rheinmetall to an “outperform” rating in a research note on Monday, June 22nd. Citigroup raised shares of Rheinmetall from a “hold” rating to a “buy” rating in a report on Monday, May 18th. Finally, Royal Bank Of Canada assumed coverage on shares of Rheinmetall in a research report on Tuesday, August 11th. They issued a “moderate buy” rating for the company. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

About Rheinmetall

Rheinmetall AG is a Germany-based technology and defense company headquartered in Düsseldorf. Founded in 1889 as Rheinische Metallwaaren- und Maschinenfabrik, the company has evolved from a producer of metal products and armaments into a major supplier of military systems and equipment.

Rheinmetall develops and manufactures armored vehicles, military trucks, weapons, ammunition, air-defense systems, sensors, simulation technologies and command-and-control electronics. Its portfolio includes the Lynx and Boxer military vehicles, the Puma infantry fighting vehicle, the Fuchs transport vehicle, artillery and tank ammunition, and the Skyranger air-defense system.