Short Interest in JB Hi-Fi Limited (OTCMKTS:JBHIF) Increases By 38.6%

JB Hi-Fi Limited (OTCMKTS:JBHIF) was the target of a large increase in short interest in February. As of February 27th, there was short interest totaling 241,007 shares, an increase of 38.6% from the February 12th total of 173,923 shares. Based on an average daily trading volume, of 22 shares, the short-interest ratio is currently 10,954.9 days. Based on an average daily trading volume, of 22 shares, the short-interest ratio is currently 10,954.9 days.

JB Hi-Fi Price Performance

Shares of JB Hi-Fi stock remained flat at C$60.34 during trading on Friday. The firm has a 50 day simple moving average of C$61.75 and a 200 day simple moving average of C$67.05. JB Hi-Fi has a 1-year low of C$58.97 and a 1-year high of C$64.35.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada started coverage on shares of JB Hi-Fi in a research report on Monday, December 8th. They issued a “sector perform” rating and a $101.00 price objective for the company. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

About JB Hi-Fi

JB Hi-Fi is a prominent consumer electronics and home entertainment retailer based in Australia, with an expanding footprint of over 300 stores across Australia and New Zealand. The company offers an extensive selection of products, including televisions, audio equipment, computers and tablets, mobile phones, gaming consoles, DVDs and Blu-ray, music, cameras, and a range of small domestic appliances. JB Hi-Fi also operates a comprehensive e-commerce platform, allowing customers to shop online and access click-and-collect and home delivery services.

Founded in 1974 by John Barbuto as a single hi-fi specialist store in Melbourne, JB Hi-Fi has grown through organic expansion and disciplined store rollout.