Xero Limited (OTCMKTS:XROLF) Sees Significant Growth in Short Interest

Xero Limited (OTCMKTS:XROLF) was the target of a significant growth in short interest in January. As of January 30th, there was short interest totaling 486,019 shares, a growth of 68.1% from the January 15th total of 289,144 shares. Based on an average daily volume of 2,151 shares, the days-to-cover ratio is presently 226.0 days. Based on an average daily volume of 2,151 shares, the days-to-cover ratio is presently 226.0 days.

Xero Price Performance

Shares of OTCMKTS XROLF opened at $54.00 on Friday. The business has a 50 day simple moving average of $69.36 and a 200 day simple moving average of $89.71. Xero has a 52 week low of $54.00 and a 52 week high of $130.00.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada upgraded shares of Xero from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, January 27th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

About Xero

Xero Limited is a global software company specializing in cloud-based accounting solutions designed for small and medium-sized businesses. Its core platform enables users to manage invoicing, bank reconciliation, payroll, expense tracking and inventory in a unified environment. The company’s ecosystem supports seamless integration with a broad range of third-party applications, extending functionality in areas such as payments, analytics, time tracking and e-commerce.

Founded in Wellington, New Zealand, in 2006 by Rod Drury, Xero has grown from a local startup into a multinational technology provider.