GrainCorp Limited (OTCMKTS:GRCLF – Get Rating) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 46,400 shares, an increase of 145.5% from the August 31st total of 18,900 shares. Based on an average trading volume of 1,100 shares, the days-to-cover ratio is presently 42.2 days.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on GRCLF. Royal Bank of Canada downgraded GrainCorp from an "outperform" rating to a "sector perform" rating in a research report on Thursday, August 4th. CLSA raised GrainCorp to a "buy" rating and set a $10.00 price target for the company in a report on Friday, July 15th.
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GrainCorp Price Performance
Shares of OTCMKTS:GRCLF traded up $0.13 during midday trading on Wednesday, hitting $5.21. The company had a trading volume of 222 shares, compared to its average volume of 7,591. GrainCorp has a twelve month low of $4.42 and a twelve month high of $7.65. The business's 50-day simple moving average is $5.71 and its 200-day simple moving average is $6.39.
About GrainCorp
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GrainCorp Limited operates as an agribusiness and processing company in Australasia, Asia, North America, Europe, the Middle East, North Africa, and internationally. It operates through two segments, Agribusiness and Processing. The company handles, markets, and trades in wheat, barley, sorghum, corn, oilseeds, pulses, organics, canola, and specialty commodities; handles, processes, stores, and transports grains and oilseeds; refines, bleaches, deodorizes, and blends edible fats and oil products; and crushes, processes, manufactures, and distributes edible oils.
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