Suncorp Group Limited (OTCMKTS:SNMCY) Sees Large Increase in Short Interest

Suncorp Group Limited (OTCMKTS:SNMCY) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 128,723 shares, an increase of 427.6% from the June 30th total of 24,397 shares. Based on an average trading volume of 172,682 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.0% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised Suncorp Group to a “strong sell” rating in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Suncorp Group Trading Up 2.1%

SNMCY opened at $13.51 on Friday. The firm’s 50 day simple moving average is $13.01 and its two-hundred day simple moving average is $12.08. The company has a market capitalization of $14.52 billion and a PE ratio of 34.33. Suncorp Group has a 1-year low of $9.43 and a 1-year high of $15.25.

Suncorp Group Company Profile

Suncorp Group is a leading Australian financial services company headquartered in Brisbane, Queensland. The group offers a comprehensive range of insurance, banking and wealth management products to personal, small business and corporate clients. Operating across Australia and New Zealand, Suncorp serves its customers through a network of branches, digital platforms and partnerships with brokers and agents.

The company’s core insurance business provides general insurance cover for motor, home, commercial and specialty lines.