Metcash Limited (OTCMKTS:MCSHF) Sees Significant Drop in Short Interest

Metcash Limited (OTCMKTS:MCSHF) was the recipient of a significant decrease in short interest in June. As of June 30th, there was short interest totaling 262,687 shares, a decrease of 55.1% from the June 15th total of 584,937 shares. Based on an average trading volume of 0 shares, the short-interest ratio is currently ? days.

Analysts Set New Price Targets

Separately, Citigroup upgraded shares of Metcash to a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Metcash currently has a consensus rating of “Hold”.

Metcash Price Performance

Shares of MCSHF stock remained flat at $1.48 during trading hours on Wednesday. Metcash has a 52 week low of $1.48 and a 52 week high of $2.32. The stock’s 50-day moving average is $1.48 and its 200 day moving average is $1.97.

Metcash Company Profile

Metcash Limited operates as a wholesale distribution and marketing company in Australia. It operates through Food, Liquor, and Hardware segments. The Food segment distributes a range of products and services to independent supermarket and convenience retail outlets. The Hardware segment distributes hardware products to independent retail outlets; and operates company owned retail stores. The Liquor segment engages in the distribution of liquor products to independent retail outlets and hotels. It sells its products under the IGA, Foodland, Mitre 10, Home Hardware, Total Tools, Cellarbrations, IGA Liquor, and the Bottle-O brand names.