GrainCorp Limited (OTCMKTS:GRCLF) Sees Large Decline in Short Interest

GrainCorp Limited (OTCMKTS:GRCLF) saw a significant decrease in short interest in February. As of February 13th, there was short interest totaling 12,760 shares, a decrease of 34.5% from the January 29th total of 19,491 shares. Based on an average daily volume of 185,109 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 185,109 shares, the days-to-cover ratio is currently 0.1 days.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada lowered GrainCorp from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

GrainCorp Trading Down 9.4%

Shares of GRCLF traded down $0.39 during mid-day trading on Tuesday, reaching $3.77. The stock had a trading volume of 215 shares, compared to its average volume of 21,450. GrainCorp has a 52-week low of $3.63 and a 52-week high of $6.15. The business’s fifty day moving average is $4.57 and its 200 day moving average is $5.10.

About GrainCorp

GrainCorp Limited (OTCMKTS:GRCLF) is an Australian agribusiness and global provider of bulk storage, handling, processing and marketing services for grain and related commodities. The company’s integrated supply chain operations enable it to source grain directly from growers, manage inland storage and receival facilities across eastern Australia, and transport commodities to port terminals for domestic and international customers.

Within its core grain division, GrainCorp offers commodity marketing services, risk management solutions and logistics support for the movement of cereal grains such as wheat, barley and canola.