Short Interest in Singapore Telecommunications Limited (OTCMKTS:SGAPY) Expands By 277.5%

Singapore Telecommunications Limited (OTCMKTS:SGAPY – Get Rating) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 15,100 shares, an increase of 277.5% from the April 30th total of 4,000 shares. Based on an average daily trading volume, of 57,600 shares, the days-to-cover ratio is presently 0.3 days.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. cut shares of Singapore Telecommunications from an “overweight” rating to a “neutral” rating in a research report on Wednesday, February 15th.

Singapore Telecommunications Trading Down 1.3 %

Shares of SGAPY traded down $0.25 during midday trading on Friday, hitting $18.37. 32,145 shares of the stock were exchanged, compared to its average volume of 48,843. Singapore Telecommunications has a 52-week low of $16.19 and a 52-week high of $20.82. The stock has a fifty day simple moving average of $18.80 and a 200 day simple moving average of $18.83.

Singapore Telecommunications Company Profile

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Singapore Telecommunications Ltd. is an investment holding company, which engages in the provision of telecommunications systems and services. It operates through the following segments: Group Consumer, Group Enterprise, Group Digital Life, and Corporate. The Group Consumer segment includes mobile, pay TV, fixed broadband and voice, as well as equipment sales.