Hannover Ruck SE (OTCMKTS:HVRRY) Sees Significant Increase in Short Interest

Hannover Ruck SE (OTCMKTS:HVRRY) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 54,306 shares, a growth of 219.0% from the August 31st total of 17,026 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average trading volume of 35,092 shares, the days-to-cover ratio is presently 1.5 days.

Hannover Ruck Stock Performance

Shares of HVRRY traded up $0.02 on Friday, reaching $49.12. 12,295 shares of the company’s stock traded hands, compared to its average volume of 14,629. The company has a current ratio of 0.06, a quick ratio of 0.07 and a debt-to-equity ratio of 0.29. The stock has a market cap of $35.54 billion, a PE ratio of 12.16 and a beta of 0.19. The stock’s 50 day simple moving average is $48.73 and its two-hundred day simple moving average is $48.55. Hannover Ruck has a 52-week low of $43.00 and a 52-week high of $55.72.

Hannover Ruck (OTCMKTS:HVRRY) last posted its quarterly earnings data on Wednesday, August 12th. The financial services provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.06. The business had revenue of $7.43 billion for the quarter, compared to analysts’ expectations of $7.23 billion. Hannover Ruck had a return on equity of 18.00% and a net margin of 9.33%. On average, analysts forecast that Hannover Ruck will post 4.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Hannover Ruck from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

About Hannover Ruck

Hannover Rück SE, also known as Hannover Re, is a Germany-based global reinsurance group headquartered in Hannover. Founded in 1966, the company provides reinsurance solutions to insurance companies and other risk-bearing organizations rather than primarily selling insurance directly to individual consumers.

Hannover Re’s main business is divided into property and casualty reinsurance and life and health reinsurance. Its services include risk transfer, catastrophe coverage, specialty reinsurance, structured solutions and insurance-linked products.