Short Interest in Standard Chartered PLC (OTCMKTS:SCBFY) Increases By 473.4%

Standard Chartered PLC (OTCMKTS:SCBFY) was the target of a large growth in short interest in May. As of May 29th, there was short interest totaling 319,713 shares, a growth of 473.4% from the May 14th total of 55,760 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily volume of 571,579 shares, the days-to-cover ratio is currently 0.6 days.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of Standard Chartered to a “hold” rating in a report on Monday, April 13th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Standard Chartered has an average rating of “Hold”.

Standard Chartered Stock Performance

SCBFY traded down $1.80 during trading on Wednesday, hitting $47.71. The stock had a trading volume of 251,792 shares, compared to its average volume of 210,458. Standard Chartered has a 12 month low of $30.95 and a 12 month high of $56.59. The company has a 50 day simple moving average of $49.64 and a 200-day simple moving average of $48.26.

About Standard Chartered

Standard Chartered PLC is a leading international banking group headquartered in London, with a heritage dating back to the 19th century. The bank was formed in 1969 through the merger of Standard Bank of British South Africa and Chartered Bank of India, Australia and China, combining deep roots in emerging markets with a global footprint. Over more than 150 years of operations, Standard Chartered has built a reputation for expertise in trade finance, corporate banking and cross-border transactions.

The company offers a broad range of financial products and services, including corporate and institutional banking, retail banking, wealth management, treasury and capital markets solutions.