Short Interest in Atlas Copco AB (OTCMKTS:ATLKY) Increases By 1,088.7%

Atlas Copco AB (OTCMKTS:ATLKY) was the target of a large increase in short interest in May. As of May 15th, there was short interest totaling 521,973 shares, an increase of 1,088.7% from the April 30th total of 43,911 shares. Based on an average daily trading volume, of 1,680,593 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.0% of the shares of the stock are short sold.

Atlas Copco Price Performance

Shares of OTCMKTS ATLKY traded up $0.03 during midday trading on Wednesday, reaching $19.40. 216,714 shares of the stock traded hands, compared to its average volume of 380,059. The company’s 50 day moving average is $18.86 and its 200 day moving average is $18.99. Atlas Copco has a one year low of $14.89 and a one year high of $22.05. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.55 and a quick ratio of 1.08. The stock has a market capitalization of $94.49 billion, a PE ratio of 34.64, a P/E/G ratio of 2.22 and a beta of 1.47.

Atlas Copco (OTCMKTS:ATLKY) last announced its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $0.14 earnings per share for the quarter, hitting the consensus estimate of $0.14. The company had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.46 billion. Atlas Copco had a net margin of 15.69% and a return on equity of 25.21%. On average, equities research analysts anticipate that Atlas Copco will post 0.66 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on ATLKY shares. The Goldman Sachs Group downgraded shares of Atlas Copco from a “strong-buy” rating to a “neutral” rating in a report on Thursday, February 5th. Citigroup reiterated a “buy” rating on shares of Atlas Copco in a report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Atlas Copco in a research note on Wednesday, April 29th. Royal Bank Of Canada reissued an “underperform” rating on shares of Atlas Copco in a report on Thursday, April 30th. Finally, Rothschild & Co Redburn raised Atlas Copco from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold”.

About Atlas Copco

Atlas Copco is a Sweden-based industrial group that develops, manufactures and services equipment and solutions for professional customers in a broad range of industries. The company’s core activities center on compressed air and gas systems, vacuum solutions, construction and mining equipment, industrial tools and assembly systems, and power and flow equipment. Products and services span new-equipment sales, aftermarket parts, maintenance and technical support aimed at improving productivity, energy efficiency and safety for industrial operations.

Key product categories include stationary and portable air compressors, air treatment and gas generation systems, industrial vacuum pumps, generators and light towers, drilling rigs and rock excavation equipment for mining and construction, as well as electric and pneumatic tools and automated assembly systems for manufacturing.