Short Interest in Bechtle AG (OTCMKTS:BECTY) Decreases By 92.9%

Bechtle AG (OTCMKTS:BECTY) was the target of a large drop in short interest in the month of May. As of May 15th, there was short interest totaling 7 shares, a drop of 92.9% from the April 30th total of 99 shares. Based on an average daily volume of 1,143 shares, the days-to-cover ratio is presently 0.0 days.

Bechtle Stock Performance

Shares of BECTY traded down $0.26 during trading hours on Wednesday, reaching $7.20. 200 shares of the company’s stock traded hands, compared to its average volume of 2,331. The firm’s 50 day simple moving average is $6.97 and its 200-day simple moving average is $8.53. Bechtle has a 12 month low of $6.00 and a 12 month high of $11.25.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Bechtle in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

About Bechtle

Bechtle AG is a Europe-based provider of IT infrastructure and services, operating through two main segments: IT Systemhaus & Managed Services and IT E-commerce. In its Systemhaus division, Bechtle delivers design, implementation and support for data center solutions, network and security architectures, cloud services, managed print services and workplace management. Its E-commerce segment offers customers direct access to a broad catalogue of hardware, software and peripherals from leading global vendors via online platforms tailored to private and public sector clients.

Founded in 1983 and headquartered in Neckarsulm, Germany, Bechtle has grown organically and through acquisitions to establish a presence in more than a dozen European countries.