Grupo Financiero Banorte, S.A.B. de C.V. (OTCMKTS:GBOOY) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 10,000 shares, an increase of 75.4% from the August 15th total of 5,700 shares. Based on an average daily volume of 25,000 shares, the days-to-cover ratio is currently 0.4 days.
Shares of GBOOY stock opened at $31.49 on Friday. The company’s 50-day moving average price is $32.03 and its 200-day moving average price is $31.08. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.82 and a quick ratio of 0.82. Grupo Financiero Banorte has a twelve month low of $15.88 and a twelve month high of $36.38.
Separately, Grupo Santander cut shares of Grupo Financiero Banorte from a “buy” rating to a “hold” rating and set a 146.00 price target on the stock. in a research report on Thursday, August 19th.
Grupo Financiero Banorte SAB de CV is a holding company, which engages in the provision of banking services. It operates through the following segments: Holding, Banorte, Savings and Forecast, Landlord and Factor, Storage, and Brokerage house Banorte. The company was founded in 1899 and is headquartered in Mexico City, Mexico.
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