China Resources Enterprise Ltd. (OTCMKTS:CRHKY) Shares Shorted: Short Interest Up 365.8% in September

China Resources Enterprise Ltd. (OTCMKTS:CRHKY) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 920,707 shares, an increase of 365.8% from the September 15th total of 197,669 shares. Based on an average daily trading volume, of 1,208,453 shares, the short-interest ratio is currently 0.8 days. Approximately 0.1% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, Sanford C. Bernstein downgraded shares of China Resources Enterprise to a “market perform” rating in a research note on Wednesday, August 26th. Two investment analysts have rated the stock with a Hold rating. According to data from MarketBeat, China Resources Enterprise currently has a consensus rating of “Hold”.

China Resources Enterprise Stock Performance

China Resources Enterprise stock traded up $0.09 on Friday, hitting $4.97. 317,079 shares of the stock traded hands, compared to its average volume of 553,655. China Resources Enterprise has a 1 year low of $4.48 and a 1 year high of $7.69. The business’s fifty day simple moving average is $5.10 and its 200 day simple moving average is $5.88.

About China Resources Enterprise

China Resources Enterprise Limited is a Hong Kong-based investment holding company associated with China Resources Holdings. The company has historically operated a diversified portfolio of consumer and retail businesses, with activities focused primarily on mainland China and Hong Kong.

Its principal operations have included retailing through supermarkets, hypermarkets and convenience stores, as well as food and beverage businesses. The company has also historically held interests in beer, food products and other consumer-related operations, although parts of these businesses have been reorganized or transferred within the broader China Resources group over time.

China Resources Enterprise forms part of the wider China Resources group, a state-owned enterprise with businesses spanning consumer products, retail, healthcare, energy and other industries.