Smiths Group PLC (OTCMKTS:SMGZY) Sees Significant Drop in Short Interest

Smiths Group PLC (OTCMKTS:SMGZY) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 13,748 shares, a decline of 69.5% from the August 31st total of 45,059 shares. Based on an average daily volume of 148,883 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are sold short.

Smiths Group Stock Up 2.3%

SMGZY stock traded up $0.84 during midday trading on Friday, hitting $37.65. 14,202 shares of the company’s stock were exchanged, compared to its average volume of 53,888. Smiths Group has a 1-year low of $28.29 and a 1-year high of $37.98. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.04 and a quick ratio of 2.77. The business has a 50-day simple moving average of $35.45 and a two-hundred day simple moving average of $34.32.

Wall Street Analysts Forecast Growth

SMGZY has been the subject of a number of recent research reports. Zacks Research cut shares of Smiths Group from a “hold” rating to a “strong sell” rating in a research report on Friday, July 31st. The Goldman Sachs Group upgraded shares of Smiths Group to a “strong-buy” rating in a research report on Thursday, August 6th. Finally, Citigroup cut shares of Smiths Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

About Smiths Group

Smiths Group plc is a United Kingdom-based engineering company that develops and manufactures technologies used in industrial, energy, transportation, security, aerospace, and medical applications. Founded in London in 1851 as S. Smith & Son, the company has evolved from a watchmaker and instrument manufacturer into a diversified global technology group.

The company operates through four principal businesses. John Crane provides engineered sealing systems, filtration products, and related services for rotating equipment used in energy and industrial applications.