Martinrea International Inc. (OTCMKTS:MRETF – Get Rating) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 674,500 shares, an increase of 52.8% from the August 15th total of 441,300 shares. Based on an average daily volume of 3,900 shares, the short-interest ratio is currently 172.9 days.
Martinrea International Stock Down 1.2 %
OTCMKTS:MRETF opened at $7.68 on Friday. The company has a 50 day moving average price of $7.68 and a 200-day moving average price of $7.11. Martinrea International has a 1-year low of $5.80 and a 1-year high of $9.79.
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MRETF has been the topic of several analyst reports. BMO Capital Markets boosted their price objective on shares of Martinrea International from C$9.00 to C$11.00 in a research note on Tuesday, August 9th. CIBC reduced their target price on shares of Martinrea International from C$14.00 to C$13.00 in a research report on Friday, July 22nd. Raymond James raised their price target on shares of Martinrea International from C$11.00 to C$12.00 in a report on Tuesday, August 9th. Scotiabank lifted their target price on shares of Martinrea International from C$13.00 to C$14.00 in a research report on Tuesday, August 9th. Finally, TD Securities boosted their price objective on shares of Martinrea International from C$14.00 to C$15.00 in a research report on Tuesday, August 9th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $13.00.
About Martinrea International
(Get Rating)Martinrea International Inc designs, develops, manufactures, and sells metal parts, assemblies and modules, fluid management systems, and aluminum products primarily to the automotive industry in North America, Europe, and internationally. It offers engine blocks, transmissions, cases, housings, oil coolers, hoses, tube assemblies, oil fillers, tubes, indicators, oil pick-up screens and pipes, heater hose inlets and outlets, and electric motor housings; and front horizontal, rear suspension, and front vertical modules.
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