Kingspan Group plc (OTCMKTS:KGSPY) Sees Significant Drop in Short Interest

Kingspan Group plc (OTCMKTS:KGSPY) was the recipient of a significant decline in short interest in December. As of December 31st, there was short interest totalling 300 shares, a decline of 80.0% from the December 15th total of 1,500 shares. Based on an average daily trading volume, of 4,700 shares, the short-interest ratio is currently 0.1 days.

Kingspan Group stock traded down $2.46 during trading hours on Thursday, hitting $79.99. 368 shares of the company traded hands, compared to its average volume of 1,258. The firm’s 50-day simple moving average is $80.97 and its two-hundred day simple moving average is $82.84. Kingspan Group has a 1-year low of $38.99 and a 1-year high of $99.25.

A number of equities analysts have issued reports on KGSPY shares. UBS Group restated a “sell” rating on shares of Kingspan Group in a research report on Monday, November 30th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Kingspan Group in a research report on Friday, January 8th. Berenberg Bank reiterated a “buy” rating on shares of Kingspan Group in a research note on Monday, September 28th. Morgan Stanley restated an “equal weight” rating on shares of Kingspan Group in a research note on Tuesday, November 17th. Finally, Barclays restated an “underweight” rating on shares of Kingspan Group in a research note on Tuesday, November 17th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold”.

About Kingspan Group

Kingspan Group plc, together with its subsidiaries, provides building solutions for the construction sector in the Republic of Ireland, the United Kingdom, rest of Europe, the Americas, and internationally. It operates through five segments: Insulated Panels, Insulation Boards, Light & Air, Water & Energy, and Data & Flooring Technology.

Recommended Story: Why is total return important?

Receive News & Ratings for Kingspan Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kingspan Group and related companies with MarketBeat.com's FREE daily email newsletter.