Hon Hai Precision Industry Co., Ltd. Sponsored GDR (OTCMKTS:HNHPF) Sees Large Decrease in Short Interest

Hon Hai Precision Industry Co., Ltd. Sponsored GDR (OTCMKTS:HNHPF) saw a large decline in short interest in the month of October. As of October 30th, there was short interest totaling 113,046 shares, a decline of 66.3% from the October 15th total of 335,808 shares. Based on an average trading volume of 55,647 shares, the days-to-cover ratio is presently 2.0 days. Approximately 0.0% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, Barclays reiterated an “overweight” rating and set a $23.00 price target on shares of Hon Hai Precision Industry Co., Ltd. Sponsored GDR in a research note on Thursday, August 20th. One investment analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $23.00.

Hon Hai Precision Industry Co., Ltd. Sponsored GDR Stock Performance

OTCMKTS HNHPF opened at $13.89 on Friday. The company has a fifty day moving average of $15.40 and a 200 day moving average of $15.11. Hon Hai Precision Industry Co., Ltd. Sponsored GDR has a 1 year low of $11.50 and a 1 year high of $20.26.

About Hon Hai Precision Industry Co., Ltd. Sponsored GDR

Hon Hai Precision Industry Co., Ltd., widely known as Foxconn, is a Taiwan-based electronics manufacturer and technology services provider. Founded in 1974 by Terry Gou, the company produces and assembles electronic products and components for other companies. Its activities include manufacturing smartphones, computers, consumer electronics, and communications and cloud-networking equipment. Hon Hai also provides product design, engineering, supply-chain management, and related manufacturing services, and has expanded into areas such as electric vehicles and automotive components.