Power Co. of Canada (OTCMKTS:PWCDF – Get Free Report) saw a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 6,999,365 shares, a drop of 43.3% from the June 30th total of 12,347,335 shares. Based on an average daily trading volume, of 355,079 shares, the days-to-cover ratio is presently 19.7 days.
Power Co. of Canada Stock Down 1.9%
Shares of PWCDF stock traded down $1.26 on Wednesday, hitting $65.07. The company’s stock had a trading volume of 6,602 shares, compared to its average volume of 108,290. The firm’s fifty day moving average price is $62.25 and its 200-day moving average price is $54.95. Power Co. of Canada has a fifty-two week low of $38.21 and a fifty-two week high of $70.74.
Analysts Set New Price Targets
PWCDF has been the topic of a number of recent analyst reports. BMO Capital Markets reaffirmed a “market perform” rating on shares of Power Co. of Canada in a report on Tuesday, May 12th. Desjardins reaffirmed a “buy” rating on shares of Power Co. of Canada in a research note on Wednesday, May 13th. Scotiabank restated an “outperform” rating on shares of Power Co. of Canada in a report on Friday. TD Securities lowered shares of Power Co. of Canada from a “buy” rating to a “hold” rating in a report on Thursday, May 14th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Power Co. of Canada in a research report on Wednesday, April 29th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Power Co. of Canada presently has an average rating of “Hold”.
About Power Co. of Canada
Power Co of Canada is a diversified international management and holding company founded in 1925 and headquartered in Montreal, Quebec. Through its principal subsidiaries, the company builds long-term value by investing in and providing strategic oversight to companies operating primarily in the financial services sector. Power Co maintains a long history of family ownership and stewardship, with former co-CEOs Paul Desmarais Jr. and André Desmarais playing key roles in its development over recent decades.
The company’s main areas of activity encompass life and health insurance, wealth and asset management, and retirement services.
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