Short Interest in Suncorp Group Limited (OTCMKTS:SNMCY) Expands By 427.6%

Suncorp Group Limited (OTCMKTS:SNMCY) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totaling 128,723 shares, an increase of 427.6% from the June 30th total of 24,397 shares. Based on an average trading volume of 172,682 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.0% of the company’s stock are sold short.

Suncorp Group Price Performance

SNMCY opened at $13.51 on Friday. The stock has a market capitalization of $14.52 billion and a PE ratio of 34.33. The firm’s fifty day moving average price is $13.01 and its 200 day moving average price is $12.08. Suncorp Group has a 12-month low of $9.43 and a 12-month high of $15.25.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Suncorp Group to a “strong sell” rating in a research note on Thursday, July 2nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Suncorp Group Company Profile

Suncorp Group is a leading Australian financial services company headquartered in Brisbane, Queensland. The group offers a comprehensive range of insurance, banking and wealth management products to personal, small business and corporate clients. Operating across Australia and New Zealand, Suncorp serves its customers through a network of branches, digital platforms and partnerships with brokers and agents.

The company’s core insurance business provides general insurance cover for motor, home, commercial and specialty lines.