National Australia Bank Ltd. (OTCMKTS:NABZY) Sees Large Decrease in Short Interest

National Australia Bank Ltd. (OTCMKTS:NABZY) was the target of a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 30,254 shares, a drop of 53.7% from the May 14th total of 65,312 shares. Based on an average daily trading volume, of 744,497 shares, the short-interest ratio is currently 0.0 days. Approximately 0.0% of the shares of the company are short sold.

National Australia Bank Stock Up 1.5%

Shares of OTCMKTS NABZY traded up $0.19 during mid-day trading on Monday, hitting $12.98. The company had a trading volume of 908,315 shares, compared to its average volume of 428,450. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 2.88. The business’s 50-day simple moving average is $14.05 and its 200-day simple moving average is $14.68. National Australia Bank has a 12 month low of $11.76 and a 12 month high of $18.13.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut shares of National Australia Bank from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $38.00.

About National Australia Bank

National Australia Bank (OTCMKTS: NABZY) is one of Australia’s largest banking groups, offering a broad range of financial services to retail, small business, corporate and institutional customers. Its core activities include personal and business banking — such as deposits, home and business lending, credit cards and payment services — as well as wealth management, insurance, markets and specialist lending. The bank provides transaction and cash management solutions, financing and advisory services to corporate clients and institutional investors.

Headquartered in Melbourne, NAB traces its corporate origins to a 1982 merger between the National Bank of Australasia and the Commercial Banking Company of Sydney, with precursor institutions dating to the 19th century.