Short Interest in Legrand SA (OTCMKTS:LGRDY) Increases By 4,298.5%

Legrand SA (OTCMKTS:LGRDY) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 290,300 shares, a growth of 4,298.5% from the September 15th total of 6,600 shares. Based on an average daily trading volume, of 387,500 shares, the days-to-cover ratio is presently 0.7 days.

Several research analysts have commented on LGRDY shares. Bryan, Garnier & Co downgraded Legrand from a “buy” rating to a “neutral” rating in a report on Tuesday, June 29th. Royal Bank of Canada reissued a “sector perform” rating on shares of Legrand in a research note on Friday, August 6th. Barclays reissued an “overweight” rating on shares of Legrand in a research note on Monday, August 2nd. Societe Generale reissued a “hold” rating on shares of Legrand in a research note on Tuesday, August 3rd. Finally, Exane BNP Paribas raised Legrand from a “neutral” rating to an “outperform” rating and set a €135.00 ($158.82) price objective on the stock in a research note on Tuesday, September 21st. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Legrand presently has an average rating of “Hold” and a consensus price target of $135.00.

Shares of Legrand stock opened at $20.85 on Thursday. Legrand has a one year low of $14.60 and a one year high of $23.31. The business has a 50-day simple moving average of $22.34 and a 200 day simple moving average of $21.36.

Legrand Company Profile

Legrand SA is a holding company, which engages in the manufacture of electrical and digital building infrastructures. Its services include the provision of control and command of electric power, cable management, power distribution, and voice-data-image distribution. The company was founded in 1926 and is headquartered in Limoges, France.

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