Singapore Telecommunications Ltd. (OTCMKTS:SGAPY) Sees Significant Increase in Short Interest

Singapore Telecommunications Ltd. (OTCMKTS:SGAPY) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 5,112 shares, a growth of 90.1% from the August 15th total of 2,689 shares. Based on an average trading volume of 57,526 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the stock are short sold.

Singapore Telecommunications Price Performance

Shares of Singapore Telecommunications stock traded up $0.18 during midday trading on Thursday, reaching $34.71. The company had a trading volume of 4,299 shares, compared to its average volume of 70,083. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.04. The stock has a fifty day simple moving average of $34.66 and a 200 day simple moving average of $35.98. Singapore Telecommunications has a 1-year low of $30.69 and a 1-year high of $41.20.

Analysts Set New Price Targets

A number of research firms recently commented on SGAPY. Zacks Research upgraded Singapore Telecommunications to a “hold” rating in a research report on Thursday, May 28th. Phillip Securities upgraded Singapore Telecommunications from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy”.

About Singapore Telecommunications

Singapore Telecommunications Limited, commonly known as Singtel, is a communications technology group headquartered in Singapore. The company provides mobile and fixed-line telecommunications, broadband, digital television, and related digital services to consumers and businesses. Through its enterprise operations, Singtel also offers information and communications technology services, including cloud computing, cybersecurity, managed connectivity, data-center solutions and digital infrastructure.

Singtel serves customers primarily in Singapore and Australia, where it operates through its Optus business.