AB SKF (OTCMKTS:SKFRY) Short Interest Up 452.1% in June

AB SKF (OTCMKTS:SKFRY) saw a large increase in short interest in June. As of June 15th, there was short interest totaling 27,904 shares, an increase of 452.1% from the May 31st total of 5,054 shares. Based on an average daily trading volume, of 40,200 shares, the short-interest ratio is currently 0.7 days. Currently, 0.0% of the shares of the stock are sold short.

AB SKF Price Performance

OTCMKTS SKFRY traded down $0.65 during trading hours on Friday, hitting $25.37. 11,528 shares of the company’s stock traded hands, compared to its average volume of 19,137. The company has a market capitalization of $11.55 billion, a PE ratio of 28.83, a PEG ratio of 1.97 and a beta of 1.18. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.09 and a quick ratio of 1.18. AB SKF has a 52-week low of $22.26 and a 52-week high of $29.41. The firm’s 50-day moving average is $25.61 and its 200-day moving average is $26.16.

AB SKF (OTCMKTS:SKFRY) last released its earnings results on Tuesday, April 21st. The industrial products company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.44 billion. AB SKF had a net margin of 4.23% and a return on equity of 13.63%. Equities analysts forecast that AB SKF will post 1.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Zacks Research upgraded AB SKF from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Royal Bank Of Canada downgraded AB SKF from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 20th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, AB SKF currently has a consensus rating of “Hold”.

AB SKF Company Profile

AB SKF (OTCMKTS:SKFRY) is a leading global supplier of bearing and seal solutions, offering a comprehensive portfolio that includes rolling bearings, plain bearings, mechatronics, lubrication systems and services. The company’s products are designed to improve the reliability, efficiency and performance of rotating equipment in a wide range of applications, from heavy industry and energy to aerospace and automotive.

Founded in 1907 and headquartered in Gothenburg, Sweden, SKF introduced the world’s first self-aligning ball bearing and has since grown into a truly global organization.