Short Interest in Standard Chartered PLC (OTCMKTS:SCBFY) Declines By 71.4%

Standard Chartered PLC (OTCMKTS:SCBFY) saw a large drop in short interest in July. As of July 15th, there was short interest totaling 7,063 shares, a drop of 71.4% from the June 30th total of 24,666 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 299,934 shares, the short-interest ratio is presently 0.0 days.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of Standard Chartered from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Standard Chartered presently has an average rating of “Strong Buy”.

Standard Chartered Stock Performance

Standard Chartered stock traded up $0.28 during mid-day trading on Friday, hitting $56.88. The company’s stock had a trading volume of 320,436 shares, compared to its average volume of 213,205. The business has a 50 day moving average price of $54.52 and a 200-day moving average price of $50.25. Standard Chartered has a 12 month low of $34.97 and a 12 month high of $58.20.

Standard Chartered Company Profile

Standard Chartered PLC is a leading international banking group headquartered in London, with a heritage dating back to the 19th century. The bank was formed in 1969 through the merger of Standard Bank of British South Africa and Chartered Bank of India, Australia and China, combining deep roots in emerging markets with a global footprint. Over more than 150 years of operations, Standard Chartered has built a reputation for expertise in trade finance, corporate banking and cross-border transactions.

The company offers a broad range of financial products and services, including corporate and institutional banking, retail banking, wealth management, treasury and capital markets solutions.