Coles Group Limited (OTCMKTS:CLEGF) Short Interest Down 33.4% in August

Coles Group Limited (OTCMKTS:CLEGF) saw a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 507,816 shares, a decrease of 33.4% from the July 30th total of 761,982 shares. Based on an average daily trading volume, of 2 shares, the days-to-cover ratio is presently 253,908.0 days.

Coles Group Price Performance

CLEGF stock opened at $16.85 on Tuesday. The business’s 50 day simple moving average is $16.59 and its 200 day simple moving average is $16.07. Coles Group has a 1-year low of $13.00 and a 1-year high of $17.14.

Analysts Set New Price Targets

Separately, Citigroup downgraded shares of Coles Group to a “neutral” rating in a report on Wednesday, August 26th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $23.00.

About Coles Group

Coles Group Ltd. (OTCMKTS:CLEGF) is a leading Australian retailer headquartered in Melbourne. The company operates one of the country’s largest supermarket chains under the Coles banner, complemented by an extensive liquor division and a network of convenience and fuel outlets. Coles Group’s core mission centers on providing a broad range of food, everyday household products and services to customers across urban and regional Australia.

Coles Group’s supermarket operations encompass both brick-and-mortar stores and an online grocery delivery platform, supported by a nationwide logistics and distribution network.