Dongfang Electric Co. Limited (OTCMKTS:DNGFF) Sees Large Increase in Short Interest

Dongfang Electric Co. Limited (OTCMKTS:DNGFF) was the target of a large increase in short interest in August. As of August 14th, there was short interest totaling 167,721 shares, an increase of 209.9% from the July 30th total of 54,121 shares. Based on an average daily volume of 134 shares, the days-to-cover ratio is currently 1,251.6 days.

Dongfang Electric Price Performance

Shares of DNGFF stock opened at $2.80 on Thursday. Dongfang Electric has a one year low of $2.00 and a one year high of $5.75. The company’s 50-day simple moving average is $2.91 and its 200-day simple moving average is $3.95.

About Dongfang Electric

Dongfang Electric Corporation (OTCMKTS: DNGFF) is a leading Chinese state-owned enterprise specializing in the design, manufacture and installation of large-scale power generation equipment. Headquartered in Chengdu, Sichuan Province, the company offers a comprehensive portfolio that spans steam turbines, gas turbines, hydro turbines, boilers, generator sets, wind turbines and nuclear power plant components. In addition to core manufacturing, Dongfang Electric provides engineering, procurement, construction and installation (EPCI) services, as well as operations and maintenance support for power projects.

Founded in 1958 as the Chengdu Electric Machinery Plant and reorganized into its current corporate structure in 1984, Dongfang Electric is supervised by China’s State-owned Assets Supervision and Administration Commission (SASAC).