Societe Generale Group (OTCMKTS:SCGLY) Shares Shorted: Short Interest Up 333.8% in October

Societe Generale Group (OTCMKTS:SCGLY) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 213,926 shares, a growth of 333.8% from the September 30th total of 49,315 shares. Based on an average daily trading volume, of 1,738,433 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada restated a “sector perform” rating on shares of Societe Generale Group in a research report on Tuesday, September 22nd. The Goldman Sachs Group lowered shares of Societe Generale Group from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 2nd. Keefe, Bruyette & Woods raised shares of Societe Generale Group from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, October 13th. Citigroup restated a “buy” rating on shares of Societe Generale Group in a research note on Tuesday, September 22nd. Finally, Kepler Capital Markets raised Societe Generale Group from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Societe Generale Group currently has an average rating of “Moderate Buy”.

Societe Generale Group Price Performance

Shares of OTCMKTS:SCGLY opened at $13.76 on Wednesday. Societe Generale Group has a 1-year low of $12.17 and a 1-year high of $19.52. The business has a 50-day moving average price of $15.92 and a two-hundred day moving average price of $16.57.

Societe Generale Group (OTCMKTS:SCGLY) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.11. The firm had revenue of $8.25 billion during the quarter, compared to analyst estimates of $8.03 billion. On average, equities research analysts anticipate that Societe Generale Group will post 1.82 earnings per share for the current year.

Societe Generale Group Company Profile

Societe Generale Group is a France-based international banking group founded in 1864. Headquartered in the Paris region, the company serves individual customers, businesses, institutional investors and public-sector organizations through a network spanning France and international markets.

The group’s activities include French retail banking, international retail banking and financial services, and global banking and investor solutions. Its offerings include deposit and lending products, payment services, insurance, consumer finance, vehicle leasing, private banking, corporate and investment banking, securities services, and asset management.

Societe Generale operates through established brands and subsidiaries in areas such as retail banking, mobility services and equipment finance.