Morgan Advanced Materials (OTCMKTS:MCRUF) Sees Large Increase in Short Interest

Morgan Advanced Materials (OTCMKTS:MCRUF) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totaling 22,629 shares, a growth of 14,787.5% from the September 30th total of 152 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 51 shares, the short-interest ratio is currently 443.7 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Citigroup downgraded shares of Morgan Advanced Materials from a “buy” rating to a “neutral” rating in a research report on Monday, October 19th. Royal Bank Of Canada upgraded Morgan Advanced Materials from a “hold” rating to a “moderate buy” rating in a research report on Friday, October 9th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Morgan Advanced Materials Stock Performance

Morgan Advanced Materials stock remained flat at $3.67 during midday trading on Monday. Morgan Advanced Materials has a fifty-two week low of $2.58 and a fifty-two week high of $3.67. The business has a fifty day simple moving average of $3.43 and a two-hundred day simple moving average of $3.11.

About Morgan Advanced Materials

Morgan Advanced Materials plc is a United Kingdom-based manufacturer of advanced materials and engineered products. The company develops solutions using carbon, ceramics and other specialist materials designed to operate in demanding conditions, including high temperatures, electrical loads, mechanical stress and corrosive environments.

Its products and technologies include carbon brushes and electrical contact materials, ceramic components, thermal-management and insulation products, seals, bearings, refractory materials and composite solutions.