Hydro One Limited (OTCMKTS:HRNNF) Sees Large Decline in Short Interest

Hydro One Limited (OTCMKTS:HRNNF) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 2,533,500 shares, a decrease of 29.6% from the September 30th total of 3,600,800 shares. Based on an average daily volume of 42,700 shares, the short-interest ratio is currently 59.3 days. Based on an average daily volume of 42,700 shares, the short-interest ratio is currently 59.3 days.

Hydro One Price Performance

Shares of OTCMKTS:HRNNF traded down $0.31 during midday trading on Monday, reaching $36.74. 11,319 shares of the company’s stock were exchanged, compared to its average volume of 27,504. The company’s 50 day simple moving average is $36.11 and its two-hundred day simple moving average is $36.20. Hydro One has a 12 month low of $29.67 and a 12 month high of $38.85.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. CIBC reissued a “neutral” rating on shares of Hydro One in a report on Tuesday, October 21st. Raymond James Financial reissued a “market perform” rating on shares of Hydro One in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Hydro One presently has a consensus rating of “Hold”.

Hydro One Company Profile

Hydro One Limited, through its subsidiaries, operates as an electricity transmission and distribution company in Ontario. The company operates through three segments: Transmission, Distribution, and Other. It owns and operates approximately 30,000 circuit kilometers of high-voltage transmission lines and approximately 125,000 circuit kilometers primary low-voltage distribution lines.