Verbund Ag (OTCMKTS:OEZVY) Sees Significant Decrease in Short Interest

Verbund Ag (OTCMKTS:OEZVY) was the recipient of a large drop in short interest in May. As of May 29th, there was short interest totaling 162 shares, a drop of 89.0% from the May 14th total of 1,473 shares. Based on an average trading volume of 368 shares, the days-to-cover ratio is currently 0.4 days.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OEZVY. Morgan Stanley restated an “underweight” rating on shares of Verbund in a report on Monday, May 18th. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Verbund in a report on Thursday, April 23rd. Finally, Kepler Capital Markets downgraded shares of Verbund from a “hold” rating to a “strong sell” rating in a report on Monday, February 16th. Four analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Strong Sell”.

Verbund Price Performance

Shares of Verbund stock traded up $0.07 during mid-day trading on Tuesday, hitting $13.61. 516 shares of the stock were exchanged, compared to its average volume of 972. Verbund has a twelve month low of $13.21 and a twelve month high of $17.13. The company has a 50-day simple moving average of $14.47 and a 200 day simple moving average of $14.79.

Verbund (OTCMKTS:OEZVY) last released its quarterly earnings results on Wednesday, May 13th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.04. The firm had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.27 billion.

About Verbund

Verbund AG is Austria’s leading electricity company and one of Europe’s largest producers of hydropower. The company’s core activities encompass the generation, transmission and distribution of electric power, with a focus on renewable energy sources. Verbund operates more than 130 hydropower plants along the Danube, Inn and Enns rivers, supplemented by pumped storage facilities and thermal generation assets. Through its integrated electricity grid, the company supplies power to domestic consumers and industrial clients while also participating in wholesale energy markets across Central Europe.

In addition to its extensive hydropower portfolio, Verbund has expanded into wind, solar and battery storage projects to support Europe’s transition to carbon-neutral energy.