Morgan Advanced Materials (OTCMKTS:MCRUF) Sees Significant Decrease in Short Interest

Morgan Advanced Materials (OTCMKTS:MCRUF) was the target of a large drop in short interest in December. As of December 15th, there was short interest totaling 640 shares, a drop of 94.8% from the November 30th total of 12,340 shares. Based on an average trading volume of 3 shares, the days-to-cover ratio is presently 213.3 days. Based on an average trading volume of 3 shares, the days-to-cover ratio is presently 213.3 days.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada downgraded Morgan Advanced Materials from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 25th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Morgan Advanced Materials Trading Up 12.4%

Morgan Advanced Materials stock traded up $0.32 during midday trading on Wednesday, reaching $2.90. The stock had a trading volume of 3,000 shares, compared to its average volume of 151. Morgan Advanced Materials has a twelve month low of $2.37 and a twelve month high of $3.51. The firm’s fifty day simple moving average is $2.72 and its two-hundred day simple moving average is $2.81.

Morgan Advanced Materials Company Profile

Morgan Advanced Materials is a global engineering group specializing in the design, development and manufacture of advanced ceramic, carbon and composite materials. Founded in 1856 and headquartered in Windsor, England, the company serves a broad range of end markets by providing high-performance materials and components that enable critical applications in industries such as energy, electronics, aerospace, transportation and medical equipment.

The company’s portfolio includes engineered ceramics for thermal management and insulation, carbon materials for electrical and mechanical applications, and composite assemblies for wear-resistant and refractory uses.