HDFC Bank Limited (NYSE:HDB) was the target of a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 2,047,300 shares, a drop of 27.0% from the May 30th total of 2,804,900 shares. Based on an average daily volume of 674,200 shares, the short-interest ratio is currently 3.0 days. Approximately 0.2% of the shares of the company are sold short.
Shares of NYSE HDB traded down $2.10 during trading on Friday, hitting $125.95. The company had a trading volume of 498,375 shares, compared to its average volume of 674,592. The company has a 50 day simple moving average of $127.10. HDFC Bank has a 12 month low of $85.43 and a 12 month high of $131.78. The company has a market capitalization of $109.04 billion, a price-to-earnings ratio of 37.93, a P/E/G ratio of 1.20 and a beta of 0.44.
Several research analysts have issued reports on the company. Nomura cut HDFC Bank from a “buy” rating to a “neutral” rating and set a $128.63 target price on the stock. in a research report on Tuesday, June 11th. Zacks Investment Research raised Eutelsat Communications from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a research report on Wednesday, June 12th.
HDFC Bank Company Profile
HDFC Bank Limited provides a range of banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in Treasury, Retail Banking, Wholesale Banking, and Other Banking Business segments. It accepts savings accounts, salary accounts, current accounts, fixed and recurring deposits, demat accounts, safe deposit lockers, and rural accounts, as well as offshore accounts and deposits.
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