Suncorp Group Limited (OTCMKTS:SNMCY) Sees Significant Growth in Short Interest

Suncorp Group Limited (OTCMKTS:SNMCY) saw a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 39,043 shares, a growth of 55.9% from the July 30th total of 25,043 shares. Based on an average trading volume of 82,554 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.0% of the shares of the company are sold short.

Suncorp Group Stock Up 1.9%

Shares of SNMCY opened at $13.90 on Thursday. The company has a 50-day simple moving average of $13.50 and a 200-day simple moving average of $12.44. Suncorp Group has a 52 week low of $9.43 and a 52 week high of $15.66.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of Suncorp Group from a “strong sell” rating to a “hold” rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Suncorp Group presently has a consensus rating of “Hold”.

About Suncorp Group

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.