Qantas Airways Limited (OTCMKTS:QABSY) Sees Significant Increase in Short Interest

Qantas Airways Limited (OTCMKTS:QABSY) was the target of a large increase in short interest in October. As of October 30th, there was short interest totaling 46,658 shares, an increase of 267.8% from the October 15th total of 12,685 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average trading volume of 162,759 shares, the days-to-cover ratio is presently 0.3 days.

Qantas Airways Price Performance

QABSY traded down $0.43 on Thursday, reaching $33.56. The company had a trading volume of 8,525 shares, compared to its average volume of 48,620. Qantas Airways has a 1 year low of $27.82 and a 1 year high of $39.21. The stock has a 50-day moving average price of $31.25 and a 200-day moving average price of $33.09.

Wall Street Analysts Forecast Growth

Separately, Zacks Research downgraded Qantas Airways from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

About Qantas Airways

Qantas Airways Limited is Australia’s national airline and one of the country’s largest aviation groups. Founded in 1920, the company operates scheduled passenger services under the Qantas brand, connecting Australian cities with destinations across New Zealand, Asia, Europe, North America and the Pacific. Its domestic and international operations serve business and leisure travelers through a network of regular flights. The Qantas Group also operates Jetstar, a low-cost airline serving Australia and selected international markets.