Short Interest in Nestlé S.A. (OTCMKTS:NSRGY) Rises By 70.9%

Nestlé S.A. (OTCMKTS:NSRGY) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 81,000 shares, a growth of 70.9% from the March 31st total of 47,400 shares. Based on an average daily volume of 1,512,800 shares, the days-to-cover ratio is presently 0.1 days.

Nestlé Price Performance

NSRGY traded down $0.09 on Monday, hitting $101.34. The company had a trading volume of 723,200 shares, compared to its average volume of 762,539. The company has a quick ratio of 0.51, a current ratio of 0.83 and a debt-to-equity ratio of 1.26. The company’s fifty day moving average price is $105.17 and its 200 day moving average price is $109.94. Nestlé has a 1 year low of $99.04 and a 1 year high of $131.64.

Institutional Investors Weigh In On Nestlé

A number of institutional investors and hedge funds have recently made changes to their positions in NSRGY. Confluence Investment Management LLC acquired a new stake in Nestlé in the 1st quarter valued at approximately $111,100,000. Kornitzer Capital Management Inc. KS boosted its stake in shares of Nestlé by 198.4% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 83,173 shares of the company’s stock valued at $9,636,000 after purchasing an additional 55,298 shares during the period. Ramirez Asset Management Inc. purchased a new position in Nestlé in the 3rd quarter valued at approximately $3,572,000. Douglas Lane & Associates LLC grew its stake in Nestlé by 3.7% during the 1st quarter. Douglas Lane & Associates LLC now owns 783,166 shares of the company’s stock worth $83,255,000 after purchasing an additional 27,888 shares in the last quarter. Finally, Beach Investment Counsel Inc. PA increased its holdings in Nestlé by 15.2% during the 4th quarter. Beach Investment Counsel Inc. PA now owns 191,115 shares of the company’s stock worth $22,099,000 after purchasing an additional 25,203 shares during the period. 0.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NSRGY shares. BNP Paribas cut shares of Nestlé from a “neutral” rating to an “underperform” rating in a research report on Tuesday, January 9th. Royal Bank of Canada upgraded Nestlé from an “underperform” rating to a “sector perform” rating in a report on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Nestlé presently has an average rating of “Hold” and an average price target of $153.00.

Nestlé Company Profile

Nestlé SA, together with its subsidiaries, operates as a food and beverage company. The company operates through Zone North America; Zone Europe; Zone Asia, Oceania, and Africa; Zone Latin America; Zone Greater China; Nespresso; and Nestlé Health Science segments. It offers baby foods under the Cerelac, Gerber, Nido, and NaturNes brands; bottled water under the Nestlé Pure Life, Perrier, Vittel, Buxton, Erikli, and S.Pellegrino brands; cereals under the Fitness, Nesquik, cheerios, and Lion Cereals brands; and chocolate and confectionery products under the KitKat, Smarties, Aero, Nestlé Les Recettes de l'Atelier, Milkybar, Baci Perugina, Quality Street, and Fitness brands.