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Short Interest in Finning International Inc. (OTCMKTS:FINGF) Increases By 78.4%

kopsource ·  Aug 11, 2022 22:31

Finning International Inc. (OTCMKTS:FINGF – Get Rating) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 424,500 shares, an increase of 78.4% from the July 15th total of 237,900 shares. Based on an average daily volume of 2,900 shares, the short-interest ratio is presently 146.4 days.

Finning International Stock Performance

Shares of FINGF stock remained flat at $22.80 during trading hours on Thursday. 100 shares of the company were exchanged, compared to its average volume of 1,960. The stock has a 50-day moving average price of $22.01 and a two-hundred day moving average price of $26.36. Finning International has a 12-month low of $18.34 and a 12-month high of $32.23.

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Finning International Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, June 9th. Stockholders of record on Thursday, May 26th were given a dividend of $0.1819 per share. The ex-dividend date of this dividend was Wednesday, May 25th. This is a positive change from Finning International's previous dividend of $0.18. This represents a dividend yield of 2.81%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. National Bank Financial dropped their target price on shares of Finning International from C$46.00 to C$40.00 in a report on Wednesday, July 13th. BMO Capital Markets decreased their target price on shares of Finning International from C$38.00 to C$32.00 in a research report on Monday, June 27th. Scotiabank decreased their target price on shares of Finning International from C$46.00 to C$38.00 in a research report on Monday, July 25th. Finally, Canaccord Genuity Group decreased their target price on shares of Finning International from C$46.00 to C$42.00 and set a "buy" rating on the stock in a research report on Monday, August 1st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $41.89.

Finning International Company Profile

(Get Rating)

Finning International Inc sells, services, and rents heavy equipment, and power and energy systems in Canada, Chile, the United Kingdom, Argentina, and internationally. The company offers telehandlers, articulated trucks, asphalt pavers, backhoe loaders, cable assist vehicles, cable yarding systems, chip dozers, cold planers, compactors, dozers, drills, electric rope shovels, excavators, material handlers, motor graders, off-highway trucks, pipelayers, remixing transfer vehicle, road reclaimers, road wideners, skid steer and compact track loaders, tack distributors, track loaders, underground-hard rock, wheel loaders, wheel tractor-scrapers, and windrow elevators, as well as attachments.

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